Medium-term: Surprise primary surplus of 3.2% and 2025 – What benefits it incorporates

The Council of the European Union and the European Commission person received – for the archetypal clip – the yearly advancement study for the twelvemonth 2025, regarding the targets acceptable successful the Greek Medium-Term Fiscal-Structural Plan (MSP) 2025-2028, by the revised European economical governance model that entered into unit connected 30 April 2024.

According to the yearly advancement report, a maturation complaint of 2.3%, an concern maturation complaint of 8.4%, a backstage depletion maturation complaint of 1.7%, an export maturation complaint of 4.0%, and an import maturation complaint of 3.8% are projected for 2025. The harmonized user terms scale is expected to decelerate to 2.4% successful 2025 from 3.0% successful 2024.

The authorities fund superior balance, taking into relationship the announced fiscal measures and the 2024 performance, is expected to beryllium 3.2% successful 2025 compared to 4.8% successful 2024, and the wide wide authorities equilibrium is expected to beryllium 0.1% successful 2025 compared to 1.3% successful 2024. The debt-to-GDP ratio declined from 163.9% successful 2023 to 153.6% successful 2024 and is expected to further decelerate to 145.7% successful 2025.

The yearly maturation complaint of nett superior expenditure successful 2025 is expected to scope 4.5% successful 2025 against a people of 3.7%. This deviation is wrong the fiscal borderline of 0.3% of GDP for yearly maturation acceptable by the European framework, taking into relationship that the cumulative expenditure maturation successful 2024 and 2025 is wrong the applicable limits. For the twelvemonth 2024, taking into relationship the important taxation evasion simplification measures that are perceived arsenic progressive gross measures and counted deductively successful the nett expenditure target, nett superior expenditure is estimated to person declined by 0.3% against a maturation threshold of 2.6%.

The yearly advancement study includes fiscal interventions for 2024 and 2025. These interventions purpose to fortify disposable income and beforehand sustainable maturation and societal cohesion, without compromising the prudent fiscal way our state has followed successful caller years.

Important fiscal measures implemented successful 2024 see the betterment of the nationalist assemblage wage bill, the simplification of taxes for families with children, the 50% simplification of the concern tax, the summation of the commencement allowance, the hold of the maternity allowance, and different measures to code earthy disasters.

For 2025, fiscal measures foreseen successful the fund and already being implemented see an further simplification of security contributions by 1 percent point, an summation successful nationalist assemblage wages pursuing the summation of the minimum wage from EUR 830 to EUR 880, and the abolition of the concern tax, the incentives for innovation, mergers and acquisitions, the self-taxation of on-call clip for NHS doctors, the exemption from the taxation connected wellness security premiums for children’s wellness contracts, the implementation of the My Home II programme and different measures addressing issues related to demographic and lodging problems.

In summation to the above, measures amounting to EUR 1.3 billion, announced aft the submission of the 2025 authorities budget, are being implemented based connected the affirmative fiscal show successful 2024 linked to the show of measures to trim taxation evasion. These include:

– A imperishable summation successful the National Public Investment Program by 500 cardinal euros,

– imperishable reimbursement of 1 rent, to debased and mediate income families, astatine an estimated yearly outgo of €230 million,

– imperishable yearly fiscal assistance of 250 euro to 1.44 cardinal pensioners, uninsured aged and disabled persons, astatine an estimated yearly outgo of 360 cardinal euro,

– hold of the exemption from pharmaceutical costs for debased pensioners, astatine an yearly outgo of EUR 23 million,

– Granting a hazard allowance to members of the information forces astatine an yearly outgo of EUR 222 million.

The yearly advancement study connected the Greek system makes peculiar notation to the information that our state has consistently sought and succeeded successful reducing taxation evasion done the implementation of important reforms, including:

– the interconnection of POS with currency registers,

– the afloat implementation of the “myDATA” level for the physics declaration of concern income and expenses,

– the hold of the mandatory acceptance of physics payments successful retail trade,

– existent property transactions via physics means of payment,

– the caller model for the minimum taxable income for self-employed persons,

– the summation successful fines for currency transactions implicit EUR 500,

– the outgo of societal information benefits utilizing prepaid cards,

– the digitalisation and automation of the taxation authority’s controls; and

– The implementation of the integer enactment card, which records the existent hours worked by employees.

The estimated nonstop affirmative interaction connected nationalist revenues of the main measures to combat taxation evasion is estimated to transcend €2 cardinal per year.

Finally, the yearly advancement study reports connected the advancement of each reforms and investments included successful the Medium-Term Fiscal-Structural Plan (MTP) 2025-2028.