Subsidy

The government appears determined to reimpose a windfall tax on what it considers excessive profits in the wholesale electricity market, where prices have been rising again, even without the approval of the European Union.

As before, the tax will be used to subsidize households' and businesses' electricity bills.

In a bid to ease energy expenses for vulnerable groups and promote sustainable housing solutions, the Cypriot cabinet approved a set of medium-term measures during its meeting on Tuesday, chaired by President Nikos Christodoulides. The measures are designed to support households and young families, with adjustments planned based on budgetary conditions.

A new heating subsidy model will apply for 2024/2025, with key changes including a higher subsidy for electricity consumption and an adjustment of the allowance based on updated climate data.

Bulgaria has emerged as a frontrunner in the EU regarding agricultural support for the small ruminant sector. This acknowledgment came from the National Sheep and Goat Breeding Association, whose members attended a significant European livestock exhibition in France earlier this month.

The Government and the Ministry of Social Cohesion and Family, in their efforts to provide solutions to the housing crisis, have taken initiatives to ensure affordable and quality housing. Especially for young couples, families, and vulnerable categories of our fellow citizens.

The energy transition of the Greek economy into a "green" one by 2050 will require investments totaling 436 billion euros, according to a government blueprint presented on Friday.

China must "adapt its behaviour" to solve an escalating tariff row with Europe, EU chief Charles Michel said Friday, warning of the dangers of the dispute escalating into a full-blown trade war.

The idea that subsidies for businesses and development projects should not be distributed through the current process, but as a tax deductions, could contribute to the transparency and effectiveness of state aid. 

The aid given to businesses from time to time has not paid off as expected and certainly did not reduce Greece's productive deficit. 

The European Commission obtained the necessary support in a vote to impose duties of up to 45% on imported electric vehicles made in China, as part of the EU's highest-profile probe into alleged Chinese subsidies that has provoked threats of retaliation from Beijing.

The President of SEV is calling for the amendment of the Development Law and the inclusion of large investments with tax incentives in it, given the termination of the Recovery Fund and as a measure to close the investment gap that the country continues to present against the rest of Europe despite the significant improvement of the last five years.