The so-called “intervention package” to be announced by Prime Minister Kyriakos Mitsotakis in his keynote economic policy speech at the Thessaloniki International Fair is expected to cost between €1.8 billion and €2 billion.
The bulk of the package (€1.4 billion-€1.6 billion) will consist of tax breaks and income support, the latter for low-income households. Another €400 million will be directed toward investments in energy, taking advantage of the new European Union escape clause on energy security.
The escape clauses are provisions allowing a temporary pause in the strict spending increase limits prescribed by the Stability and Growth part.
One such clause was enacted to boost defense spending. The energy security clause will enable investments on renewables and energy resilience, aiming to reduce dependence on fossil fuels.
These actions all concern next year; but Mitsotakis is expected to present a medium-term road map, covering fiscal policy until 2030.
