"No early elections" - Mitsotakis: Tax cuts and wage increases
Greek Prime Minister Kyriakos Mitsotakis has ruled out the possibility of early elections, confirming that general elections will be held in the spring of 2027.
The statement comes a day after the government announced a 3.5 billion euro package of tax cuts and wage increases, in an attempt to ease living costs and restore lost support in the polls.
Mitsotakis' center-right party won the 2023 elections with 40.5% of the vote and continues to lead the polls, but its support has fallen below 30% amid a cost-of-living crisis and corruption allegations.
The new package, equivalent to about 1.5% of GDP, provides for an annual bonus of 400 euros for pensioners and 500 euros for public sector employees.
Also, families with three children and farmers with an annual income of up to 20 thousand euros will benefit from a zero income tax rate. For the self-employed and businesses, a gradual reduction in tax prepayment of up to 50% is foreseen.
The government also aims to reduce unemployment to 6% and public debt to below 110% of GDP by 2030.
Greece, which went through a severe financial crisis after 2009, currently ranks among the best-performing economies in Europe.
The economy is growing at around 2% a year, above the eurozone average, and the government expects a primary surplus of around 4% this year. This result gives Athens financial space to implement the new measures.
Mitsotakis stated that he aims for a third four-year term and believes that his party can again secure the majority needed to govern alone.
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