1.4 billion euros in one off welfare handouts for Greeks

The Greek government has announced that it will distribute more than 1.4 billion euros in one-off welfare handouts this year.

Prime Minister Alexis Tsipras made the announcement Monday night in a televised address saying that the welfare gesture was made possible because of the country’s economic outperformance.

The hand-outs will be distributed to social groups eligible for the benefit, including the unemployed, the young and low income pensioners and it will depend on income, assets and family situations.

Out of the total amount, the 720 million euros will be distributed as an untaxed aid and the relevant bill will be tabled in Parliament in coming days. The benefit will be paid out to beneficiaries in December, the Prime Minister said.