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Greece: The first moves on the economic front after the restructuring

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The message for reforms, accuracy and taxation

Ελδα: πρεσκισστο μωπς οομετον ;ασχηματισμо

Photo. Office of the Prime Minister

A clear message for the economic policy aimed at accelerating reforms in the state, intensifying controls on market prices and continuing the effort to reduce tax evasion that will allow further reductions in taxation, the economic staff of the government sent with the first his interventions immediately after the reformation.

The extraordinary contribution of 300 million euros to the surplus profits of the refineries in 2023 announced by the Minister of National Economy and Finance Kostis Hatzidakis was the last act in the “fan” of movements and decisions that unfolded in the previous days, starting with the announcements about the changes in DEKO and the pre-announcement of the ASEP reform in order to speed up staff recruitment procedures in critical areas of the Public Sector.

The minister also announced new bills that will include incentives (tax and other) to facilitate business mergers, support investments for research and innovation, as well as the establishment of the new National Investment Fund.

For accuracy

On the accuracy front, the government's economic staff will insist on the policy of market controls alongside the meetings that will take place in the next period, of the Minister of Development T. Theodorikakos with industrialists and supermarket owners.

In the issue of the prices of the multinationals, the government is “investing” in the intervention it already made with the letter of the Prime Minister Mr. Mitsotakis to the President of the Commission to deal with the unjustified price increases imposed on the prices on the shelves by the multinationals, depending on the percentage of control that have in every market, with the result that the same products are sold at different prices per country.

As far as tax policy is concerned, K. Hatzidakis sent the “signal” declaring that the government is not going to yield ” to fiscal populism” promoting the need to reduce tax evasion in order to reduce taxation.

In more detail, the following emerges from the agenda of the previous days' announcements:

DEKO: With a new bill that will be submitted in the next period to the Parliament, changes will be foreseen that will give greater flexibility to the Administrations of DEKOs to implement policies and take decisions for their modernization. ELTA and the other DEKOs outside the general government will be able to hire general managers and managers from the private sector, with the decision of the CEO, the salaries will be freed, while recruitment will be accelerated as ASEP will only control their announcement. The procedures in their procurement regulation are also simplified and accelerated. As regards the remuneration of the subsidiaries of the Superfund, within the general government (transport etc.) they will be determined based on the model of the EFKA

Superfund: The Superfund will absorb the TAIPED and the Financial Stability Fund. By the end of the year, the outstanding matter regarding the disposal of 18% of the shares of the National Bank will be completed and the merger of Attica Bank with Pankritia will be completed.

ETAD: The State Real Estate Company will focus on mapping 36,000 properties. Of these, 6,000 will be evaluated in order to finally select 1,000 properties for which holding companies will be created in which interested parties can invest depending on the land use of each package. Part of the property of ETAD is considered to be allocated to address the housing problem.

National Investment Fund: It is created with initial funds of 300 million euros in order to invest in additional funds with the participation of dynamic sectors of the economy that create surplus value.

Prices: The reduced VAT of 13% on hand-delivered coffee and Taxis is fixed with the aim of avoiding price increases. The deadline for the return of the tax to 24% expired at the end of June. At the same time, to strengthen market controls, 30 new executives are to be hired at DIMEA.

Taxation: A 33% levy is imposed on the excess profits of the refineries in 2023, a measure from which it is expected to collect 300 million euros. The 250 million will be allocated for end-of-year support for pensioners with a personal difference and the rest will be directed to the Public Investment Program.

Source: www.kathimerini.com.cy

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