In 2025, the Greek government will implement 18 tax reductions and 7 income support measures aimed at increasing disposable income and easing financial burdens for citizens. These initiatives, totaling €1.5 billion, build on years of economic growth and efforts to combat tax evasion, marking another step toward fiscal equity and improved quality of life for workers and pensioners.
Tag: disposable income
Today’s cabinet meeting focuses on enhancing citizens’ disposable income, aiming for a minimum wage of 950 euros by 2027. The introduction of an automatic wage increase mechanism starting in 2028 promises predictability and stability for workers and employers, tying wage increases to inflation and economic productivity. Additionally, the government’s strategy on sustainable tax reduction highlights the commitment to fiscal balance and combating tax evasion.
Supermarket chains in Greece are reducing prices on basic consumer products by 6% to 15% in response to a call from the Development Ministry. By the end of October, 120 product codes will see price cuts, with over 600 more to follow. This initiative aims to ease the financial burden on consumers and is part of the government’s broader efforts to boost disposable income through wage increases and economic reforms.
Greece’s minimum wage is set to rise by 46% to 950 euros by 2027, Labour Minister Niki Kerameus announced. The increase is part of a government plan to boost incomes, with discussions underway on how it will be implemented. Kerameus also confirmed a pension increase of 2.2%-2.5% starting in January 2025, following a cumulative 13% rise in pensions over the past three years.
Greece’s 2025 draft budget forecasts 2.3% growth, 2.1% inflation, and reduced public debt at 149.1% of GDP. Despite global challenges, the budget emphasizes resilience, with increased investments, tax cuts, and measures to boost income. Minister Kostis Hatzidakis called it a “message of optimism” for economic stability and growth.
Savings in Greece have seen a dramatic decline since 2002, particularly in private savings by…
Prime Minister Kyriakos Mitsotakis addressed the media following the conclusion of the Special European Council…