Filenews 20 May 2022
A meeting on dealing with the consequences of the new global economic crisis was chaired at the Presidential Palace by the President of the Republic, with the Government Spokesman stating after the meeting that, among other things, the reduction of excise duty and VAT on electricity is expected to be extended.
Specifically, in his statements to journalists, Marios Pelekanos said that during the meeting the measures already taken and additional horizontal and /or targeted to vulnerable groups measures that could be taken were examined, taking into account the suggestions of the political parties and the social partners, as well as the recommendations of the Fiscal Council and the Council for Economy and Competitiveness.
On the instructions of the President of the Republic, under the chairmanship of the Minister of Finance, successive meetings will be held in the coming days, in order to examine and specify the additional measures that will be proposed for approval by the Council of Ministers, next Friday, May 27th.
When asked, Mr. Pelekanos said that "all the measures that could be taken have been discussed, as well as the suggestions of the social partners, the political parties, the Economy Council, the Fiscal Council. A series of discussions will follow in the coming days, so as to present to the Council of Ministers a holistic approach, a comprehensive proposal that will take into account all the parameters".
When asked about the extension to the reduction of excise duty and VAT on electricity, the Spokesperson said and these measures have been discussed today and "without wanting to pre-empt the outcome of the meetings that will follow, they are measures that are expected to be extended".
Asked whether there is fiscal space for additional measures, the Spokesman said that "an assessment has already been made by the Ministry of Finance. During today's meeting, all the proposals were analyzed, so it will take some time for the Ministry of Finance, in cooperation with all those involved, to analyse in depth the situation and to specify the limits within which the Ministry of Finance can move.
When asked if the measures are targeted for vulnerable groups, businesses, etc., the Spokesperson said that "horizontal and targeted measures were discussed".
Asked if the issue of fuel price was discussed, Mr. Pelekanos said that "there is a specific methodology that is followed that is essentially new, for some months now, which has been agreed with both the Treasury of the Republic and the Auditor General, so that very strict controls are made on fuel prices in order to avoid profiteering phenomena".
