Subsidy

The new financial aid for energy saving in houses ("Exoikonomo 2025") will have an increased budget limit for energy-saving interventions, a special provision for those affected by natural disasters, disabled people and families with many children, while it will also be available to long-term tenants.

The state is planning to spend almost 1 billion euros on subsidy and interest-free financing programs for property upgrades as of early 2025.

In recent weeks, there has been ongoing concern regarding the state's expenses for next year, with projections showing that costs far exceed available funds. As a result, savings are being emphasized. However, municipalities have raised concerns about how these cuts might impact their investment programs, questioning whether they will still receive subsidies from the state budget.

The increase in wholesale electricity rates has mostly been absorbed this month by the main power suppliers, including market leaders Public Power Corporation and Protergia, so on Friday the Energy Ministry announced a minimal subsidy for power bills amounting to 1.5 cents per kilowatt-hour for nine out of 10 households in Greece for December.

The Ministry of Finance aims to address the growing housing problem by offering a dual incentive to taxpayers: a subsidy for the renovation of vacant properties and tax-free rental income. The “Renovate – Rent” program provides a subsidy of up to €8,100 for renovation expenses, while the income from the rental remains tax-free for three years.

Let’s see an example:

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.