Subsidy

Six programs, one of them aimed at the older jobless, offer subsidies in wages and social security contributions with the aim of creating 26,000 jobs.

The length of the subsidy varies from seven to 24 months and some offer up to 100% subsidy in both wages and contributions, although are all capped.

It appears that certain individuals within the government have a penchant for causing frustration among the populace. Allow me to elucidate: A couple of years ago, as part of the "I Move Electrically" program aimed at environmental protection, an initiative was launched to grant subsidies to citizens who opted to purchase electric bicycles.

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.

Only 4,706, compared to the initial demand of 36,544 applications submitted, under the "Spiti Mou" (My Home) program for mortgage interest subsidies, have secured the much-desired approval.

These are cases where the right property for purchase has been found, which is also the important factor that makes the operation of the program difficult, given that demand is guaranteed.

Slovenian buyers can get state subsidies for new or used zero-emission cars or vans worth up to €6,500, a substantial increase from the previous level of subsidies. Buyers of cheaper vehicles stand to benefit the most.

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.

As of Thursday all small and medium-sized businesses have access to up to 75% cheaper loans compared to the average interest rate applying today, which is between 7% and 9%, through the three new funds launched by the Hellenic Development Bank (HDB), becoming available by all commercial banks.

The appeal of the support program for young people looking for affordable housing proves the necessity of the measure.  

However, subsidies will not have the desired effect as long as property prices remain so high. A holistic plan is needed that will both increase the housing stock and correct the excesses of the market. 

European Union leaders agreed on Thursday to back a revamp of the single market, simplified regulations and other steps to ensure the bloc can compete with the United States and China as an industrial leader in green and digital technologies.

Romanians hosting Ukrainian refugees say they did not receive any promised financial subsidies from the government in the last two months, in January and February.

According to official statistics, around 73,000 Ukrainian refugees are currently sheltering in Romania following the Russian invasion of Ukraine starting on February 24, 2022.