With four times as much as the original target runs the primary surplus of the state budget and this year by reinforcing the government’s financial staff estimates that the economic performance of the economy will move to record levels in view of its announcements TIF.
Based on these positive data from the front of the primary surplus in the government’s financial staff, the proposals for tax cuts in the middle class, aid in vulnerable groups, along with interventions for the mortgage, will already be processed in August in August. For the time being, according to statements by Minister of National Economy and Finance Kyriakos Pierrakakis, following the approval of the Eurogroup escape clause, the plans for the TIF package are 1.5 billion euros.
The budget in the five months of January – May closed with a primary surplus of € 5.343 billion, at over -limits from its target of € 1.055 billion. This is a development attributed to the over -performance of tax revenue due to tax evasion measures and strong growth performance of the economy. These two factors are expected to maintain their momentum in the coming period, which creates a good expectation of the financial staff that this year the primary surplus of the budget will exceed 10 billion euros. This means that the up -to -date surplus for a surplus of 3.2% of GDP to new higher levels will be exceeded. After all, last year, despite the restrained initial budget targets, the primary surplus was raised to € 11.4 billion equivalent to 4.8% of GDP.
The government has already announced that the TIF package will include new tax cuts for the middle class and employees, aid for vulnerable and housing interventions. Among the measures on the discussion table includes:
- Medium -income tax cuts with interventions in steps and tax rates.
- Tax relief for families with children to support families, while the scenarios include an increase in the tax -free threshold.
- Reduce the tax burden on rental income, while granting incentives to landlords to dispose of closed houses on the market.
- Aid to tenants to cope with the high cost of rents.
- Arrangement to unblock from urban planning and other problems and to sell 35,000 properties on the market today in the portfolios of banks and servicers.