Fiscal policy

DYPA gets more applications for book vouchers

A total of 302,786 people applied to state employment agency Hellenic Manpower Organization (DYPA) for €20 vouchers to be used to buy books in the first half of the year, compared to 231,857 in 2022 and 166,125 in 2021.

The recipients have a discount of at least 10% on books written in Greek from registered bookstores and publishers.

State Department report highlights Greece’s positive prospects

Greece has rebounded since the 2009-2018 financial crisis that saw real GDP decline by 25 percent. Modest growth began to return in 2019 and unemployment dropped from its crisis peak of 35 percent in 2013 to 12 percent in 2022, the State Department said in the 2023 Investment Climate Statements.

Economic policy bill tabled in Parliament

The National Economy and Finance Ministry's bill which includes a variety of the government's economic policy staples was tabled in Parliament on Wednesday, said Minister Kostis Hatzidakis.

Titled "Boosting the Income of Wage Earners, Youth, Family, and Labor - Pension Regulations," it "fulfills 50% of the government's economic program commitments," he noted.

FinMin, top banker optimistic on economy’s prospects

The new Finance Minister, Kostis Hatzidakis, and the Governor of the Bank of Greece, Yannis Stournaras, had a first meeting Tuesday to discuss policy, focusing on fiscal policy, banks and private debt.

The two officials met for about 90 minutes and then told reporters they had a "shared understanding" about the state of the economy, as well as a shred optimism about its prospects.

Nicosia pulls plug on fuel subsidies

Temporary state fuel subsidies are set to expire before the weekend in the Republic of Cyprus, after the finance minister announced an extension could not be justified.

Finance Minister Makis Keravnos emerged from a President's Cabinet meeting on Wednesday saying fuel subsidies could not be extended beyond June 30.

America’s wars and the US debt crisis

In the year 2000, the US government debt was $3.5 trillion, equal to 35% of the country's gross domestic product (GDP). By 2022, the debt was $24 trillion, equal to 95% of GDP. The US debt is soaring, hence America's current debt crisis. Yet both Republicans and Democrats are missing the solution: stopping America's wars of choice and slashing military outlays.

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