Greek Parliament passes 2023 budget, forecasts primary surplus

·

The Greek Parliament has approved Greece’s 2023 budget which calls for primary surplus and will offer subsidies for 85% of households and businesses as inflation looms.

According to AP News, the budget passed 156-143 in the 300-member parliament on Saturday evening after a five-day intense debate.

It is the first budget in 13 years drafted without the surveillance of Greece’s creditors.

Greek Prime Minister Kyriakos Mitsotakis, left, shakes hands with Finance Minister Christos Staikouras during a parliament session for the budget of 2023. Photo: AP Photo/Yorgos Karahalis.

While Greece rebounded strongly from a recession due to the coronavirus pandemic, the parliament forecasted economic growth will slow to 1.8% in 2023 from 5.6% this year.

To combat this, the primary surplus in the budget means the Greek government will spend less on current income from taxes and exclude the servicing of the country’s debt.

The new budget will also support households and businesses struggling due to inflation, which is expected to average 5% in 2023.

Greek Prime Minister Kyriakos Mitsotakis also announced his government will subsidise electricity bills and in February 2023, for six months, will subsidise purchases of foodstuff. The new budget will fund these subsidies through a windfall tax on the country’s two oil refiners.

Source: AP News.

Advertisement

Share:

KEEP UP TO DATE WITH TGH

By subscribing you accept our Terms of Service and Privacy Policy.

Advertisement

Latest News

George Halkias honoured at 2025 HESTA Excellence Awards

George Halkias, co-founder of The Big Issue Community Street Soccer Program, has been recognised at the 2025 HESTA Excellence Awards.

Greece abolishes ATM withdrawal fees

From Monday, August 11, banks in Greece will no longer charge fees for cash withdrawals from ATMs operated by Greek lenders.

Greece signals possible extension of North Africa asylum suspensions

Greece may extend its recently introduced suspension on processing asylum applications from migrants arriving by sea from North Africa.

Four Greek Australians charged over alleged multi-million dollar bond scam

Dimitrios (James) Podaridis, Peter Delis, Bassilios (Bill) Floropoulos, and Harry Tsalikidis have been charged with money laundering.

Former Greek PM Antonis Samaras’ daughter dies suddenly aged 34

Lena Samaras, the daughter of former Greek Prime Minister Antonis Samaras, has died suddenly after suffering a cardiac arrest.

You May Also Like

One-on-one with talented singer/ songwriter, Zoe Kalfayianni

With Zoe Kalfayianni’s exciting release of her second album, Μαχαιριά, Vasilis Vasilas talks to talented singer/songwriter about her new release, making the Greek music market and the digital age of music.

Stephanie Timotheou releases second book in ‘Ikoyenia’ series – Gardening with Pappou

Greek-Cypriot mother and children’s author Stephanie Timotheou has just launched her second bilingual children’s book, Gardening with Pappou.

Greek American police officer shot at Las Vegas protest in critical condition

Greek American officer Shay Mikalonis continued to fight for his life on Wednesday after undergoing successful surgery to remove a bullet from his neck.