PM announces tax cuts, employment subsidies to revive economy, tourism

Prime Minister Kyriakos Mitsotakis on Wednesday announced an extension of the government program to support businesses through July and targeted tax cuts, as part of a plan to revive tourism and other sectors hit by the coronavirus pandemic.

The tax cuts include lowering the VAT in public transport fares, open-air cinema ticket prices, coffee and non-alcoholic beverages to 13 percent from 24 percent from June 1 until October 31.

"I never hid the fact that the fight for life will have a heavy economic impact. Besides, all over the world the cost is already huge," he said in a televised address.

"Especially for Greece, the risk is probably greater. Not only because the crisis is hitting key sectors, such as tourism and catering. But also because the pandemic halted the country's course at a time when it was rapidly entering a path of development," he added.

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