Georgiadis: Tax cuts more than cover price hikes | greece economy


ATHENS – “Every year we reduce taxes,” Development and Investment Minister Adonis Georgiadis said in an interview with ANT1 TV on Wednesday, citing the example of VAT in restaurants and the uniform property tax real estate (ENFIA).

“The tax cuts already cover more than the increases, but by Saturday you will learn other measures,” he said.

Georgiadis also referred to the announcements that Prime Minister Kyriakos Mitsotakis is due to make on Saturday at the Thessaloniki International Fair (TIF).

“Our government’s policy is that the better our income, the lower the taxes,” he said.

“Greece’s turnover in the second quarter of 2021 was the same as we had in 2019,” noted the minister, referring to the quarterly GDP growth announced yesterday by ELSTAT, which he attributed in part to the “explosive increase in investments”.

“The economy is doing very well, let’s not paint everything black,” Georgiadis commented.

He described price increases as a global phenomenon, citing inflation in the United States as an example. “Of course, we are concerned about the phenomenon and we are monitoring it,” the minister said, adding that “this price trend will start to defuse no later than the end of Christmas. He added that what worries him , it is energy, which shows no sign of de-escalation.

“Greece is doing very well, which means that the policy of our government is working well,” he noted, adding that “an increase in the minimum wage has been announced, but it has also been increased by the lower insurance contributions “.

Regarding the growth that has been recorded, he said that “it came from exports and investments”.

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