State budget for 2025 is being drawn up and is expected to include interventions and relief measures totaling approximately 880 million euros. Institutions and ministries have submitted their proposals, including estimates on expenditure and revenue for the current year and 2025, to the General Accounting Office.
Under the new Stability Pact rules, the primary tool for fiscal discipline is primary expenditure, which can no longer increase by more than 3%. Greece will be restricted to a 115 billion euro threshold next year, up from around 111.6 billion euros in 2024. Within this tight framework, all social policy measures, from tax reliefs and benefits to new public sector hires and pension increases must be accommodated.
At the same time, Greece must meet the target of a primary surplus of 2.1% of GDP. According to current data, economic growth is projected at 2.6%, inflation is expected to ease to 2% and public debt is forecast to decline further, reaching 146.3% of GDP in 2025, down from 152.7% this year.
New budget will include interventions and relief measures totaling around 880 million euros, as pledged by Greel government. These measures will include a new pension increase in line with GDP growth and inflation (costing approximately 400 million euros), a 0.5% reduction in social security contributions (costing 225 million euros), the abolition of the business levy (costing 120 million euros), the permanent refund of the excise tax on agricultural diesel using a new method (estimated cost of about 100 million euros), the extension of the VAT suspension on new buildings (costing 20 million euros), and an increase in the student housing allowance (costing 15 million euros).
Source: Businessdaily.gr
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