Staikouras checks expectations regarding new social handouts

The Finance Ministry is dampening expectations of a new round of social handouts, in the form of a Christmas bonus, on top of that issued to pensioners last May.

Ministry sources say the information about a primary surplus overrun of 1 billion euros is too optimistic. Even the 346 million euros recorded in the draft budget should not be taken for granted, they say, adding that this is a small amount anyway and could not be distributed in its entirety as a social dividend as a part of it will have to go toward creating a safety cushion. They suggest that an amount of only 100-300 million euros could be handed out.

The same sources note that there are also obligations that must be covered, such as payments to state corporations and overdue arrears, which leaves little scope for handouts. They add that there are also some 2019 payments that aren't a part of the original...