Fiscal

Back to drawing board for budget

The coronavirus epidemic is likely to infect the budget and the tax breaks planned for this year concerning the Single Property Tax (ENFIA) and the solidarity levy.

The government appears to be putting aside its plans for the further reduction of ENFIA and the gradual abolition of the solidarity levy for now due to the consequences of the virus on the economy.

Gov’t eyes fiscal space of 1.5 bln in talks with creditors

The government's negotiations with the country's creditors are focused on five fronts, as Athens seeks to secure additional fiscal space so it can implement tax breaks and handouts in accordance with its policy. Among the government targets for this year are cutting the solidarity levy and the further reduction of the Single Property Tax (ENFIA).

PM Orban puts to rest Fiscal Council's concerns over possible widening of 2020 budget deficit

Prime Minister Ludovic Orban said on Thursday that he understands the concerns expressed by the Fiscal Council regarding the possible increase of the budget deficit, but assured that "there is no risk" for this to happen in 2020.

Editorial: First the reforms, then the changes

It is evident from a series of public statements that the new government is viewed positively by the representatives of Greece's creditors and European partners as they expect better cooperation and more steadfast reform policies.

Nevertheless, the first positive signals do mean that creditors are prepared to change the basic targets of economic policy.

A step too far

It was hardly a surprise. Any reasonable observer expected that the ruling leftists would pledge excessive handouts to woo voters. But this time the government has gone a step too far.

2019 budget aims to change narrative

The government submitted Greece's 2019 budget - the first in the post bailout era - to Parliament on Wednesday, saying it seeks to redress injustices against weaker social strata.

Moreover, Alternate Finance Minister Giorgos Houliarakis told lawmakers that it does not include legislated pension cuts planned for January.

Government warned over 2019 fiscal balance as it heads into crucial EWG meeting

The government is heading to Thursday's Euro Working Group of senior eurozone finance ministry officials - who will decide on pension cuts and other measures to be taken by Athens - armed with the statistics of a "magical" primary budget surplus of 6.46 billion euros. At the same time, warnings about a possible fiscal derailment continue unabated.

Pages