Quick Read
- Greece has launched a €300 million aid package to support citizens and businesses.
- The plan includes subsidies for diesel fuel and fertilizer purchases for farmers.
- Funding for the two-month program will come from the national budget and a new online casino tax.
ATHENS (Azat TV) – The Greek government announced on Sunday a comprehensive aid package totaling €300 million aimed at cushioning the impact of soaring energy and fertilizer prices on its population and businesses. The measures, set to be implemented over two months, are a direct response to economic pressures exacerbated by global events, including the ongoing conflict in Iran.
Support for Citizens and Businesses
Prime Minister Kyriakos Mitsotakis stated that the plan, dubbed “supporting every Greek,” is designed to mitigate the effects of what he described as “storms raging beyond Greece’s borders.” A key component of the package is a diesel fuel subsidy of 16 euro cents per liter, accompanied by a fuel card for most citizens to access these rebates. This initiative seeks to ease the burden of increased transportation and heating costs.
Aid for Agricultural Sector and Industry
Farmers are set to receive a 15% subsidy on fertilizer purchases, a critical measure given the sharp rise in global fertilizer prices, which directly impacts food production costs. Additionally, special compensation will be provided to ferry operators, acknowledging their vital role in the Greek economy and the challenges posed by higher fuel expenditures. The government aims to prevent these rising costs from translating into higher prices for essential goods and services, particularly within the crucial tourism sector.
Funding and Economic Strategy
The €300 million budget for the two-month program will be partially funded through the national budget and supplemented by revenue from a newly planned tax on online casinos. This approach reflects a strategy to leverage specific economic sectors to support broader public welfare. The Ministry of Finance is tasked with finalizing the detailed implementation of the plan. In a related development, Greek authorities have previously indicated an interest in exploring nuclear energy, including small modular reactors, as part of their long-term energy strategy.
The Greek government’s swift response with a substantial aid package underscores the significant economic vulnerability faced by nations reliant on imported energy and agricultural inputs. By combining direct subsidies with targeted industry support and exploring new revenue streams, Athens is attempting to stabilize its economy amidst escalating international pressures.