1 hr ago

Greek prime minister rules out snap elections, unveils tax cuts

Greece’s prime minister said there will not be an early election.

He said the next election will happen in spring 2027.

His government announced a large package of tax cuts and pay increases.

The package is worth €3.5 billion over four years.

Pensioners and public servants would receive annual bonuses.

Some families, farmers, and businesses would also receive tax relief.

The government says Greece’s economy is growing and can afford the measures.

However, the governing party’s support has fallen because of high living costs and corruption allegations.

Mitsotakis hopes the new policies will help his party win another term.

Key facts

Election timing: The next Greek elections are planned for spring 2027.
Policy package: Tax cuts and wage increases worth €3.5 billion, or 1.5% of GDP, will be introduced over four years.
Bonuses: Pensioners will receive an annual €400 bonus, while public servants will receive €500.
Tax relief: Farmers and families with three children will receive a zero tax rate on annual incomes up to €20,000.
Fiscal goals: The government aims to reduce unemployment to 6% and public debt below 110% of GDP by 2030.
Economic performance: Greece’s economy is expanding at about 2% annually, ahead of the euro zone average.
Political support: The governing party won 40.5% in 2023, but current support has fallen below 30% in opinion polls.

theprint.in · 2 hrs ago