FAMAGUSTA GAZETTE – Greek Prime Minister Kyriakos Mitsotakis on Tuesday unveiled a €1 billion ($1.14 billion) support package for low-income pensioners, tenants, and other vulnerable groups, following Greece’s stronger-than-expected fiscal performance in 2024.
“We can return a significant part of the surplus to citizens,” Mitsotakis said in a televised address, crediting continued reforms and fiscal discipline for the outcome.
According to Eurostat figures released Tuesday, Greece posted a primary surplus of 4.8% of gross domestic product (GDP) in 2024, exceeding the 2.5% target. The surplus amounted to €11.4 billion. The overall fiscal balance improved as well, recording a surplus of 1.3% of GDP compared to a 1.4% deficit in 2023.
Under the measures, 1.5 million low-income pensioners, uninsured elderly individuals, and people with disabilities will receive an annual top-up of €250 beginning in November. Additionally, tenants will be refunded one month’s rent to alleviate housing pressures.
The government will allocate €500 million to the public investment program to expedite infrastructure projects and generate jobs.
The total cost of the initiatives is estimated at approximately €1 billion, according to the Greek national news agency AMNA.