Greek FinMin: A permanent increase in pensions is on the way

Τhe positive picture of the Greek economy is threatened by high inflation, due to soaring energy costs, the Greek Finance Minister, Mr Christos Staikouras told to SKAI channel. The minister stressed that the positive picture is shaped by tourism revenues which, if they continue to increase at the same pace, may exceed those of 2019. The very high number of new investments, the high number of hires, the shrinking unemployment rate and the increased tax revenues contribute to the positive course of the economy, as well.

In addition, he stressed, household deposits continued to grow in July.

He also added that very high inflation is nibbling away at the disposable income.

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The fiscal space, created during the last two months, added Mr Staikouras, will be used to support citizens in the last quarter of the year and at the beginning of 2023.

Trends in revenues

Mr Staikouras also reiterated that we have to wait for the first week of September, when the last quarter's GDP will be released, in order to better understand the general trends in revenues.

Only in this way, we are going to understand the fiscal margins of Greece, that will be used in order to help the citizens at the end of the year.

Attention to consumption

Then, he also stressed that gas constitutes a huge problem that requires a broader European solution, while he advised citizens to be careful with consumption.

"If prices remain high, more subsidies will be needed. Therefore, additional resources will be needed to support citizens," he said, reiterating that the Greek government is going to support the Greeks for as long as needed.

He estimated, however, that the need for subsidies in...