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Gov’t plans additional measures package against price hikes, says FinMin

The Greek government plans an additional package of measures to help households and enterprises deal with the wage of price increases, Finance Minister Christos Staikouras said on Tuesday.

Speaking to Skai TV, Staikouras said “we are planning a grid of interventions for the total and concise help to households and enterprises”.

The FinMin acknowledged that the wave of price increases is more acute and will last longer than anticipated. Especially the inflation rate in the country “I confirm it will be higher in December, probably above 5%.” Note that inflation reached 4.8% in November.

He reiterated, however, that this phenomenon will be transitory and price increases on goods and services will begin de-escalating by the second quarter of 2022.

Staikouras left the door open to abolish the so-called “solidarity contribution” paid by employees in the public sector in 2023.

Commenting on a recent rise in borrowing costs, the Greek Finance minister said “calm, prudence and insight was needed. Essentially, Greece will continue having a favorable status by the European Central Bank and the goal was to obtain an investment grade by 2023 at the latest.”

PS I hope he comes up with real effective measures other than the solidarity fee for civil servant as the weekly supermarket expenses are up by 10-15 euros, not to mention the horrifying electricity bills.

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  1. the most effective measure to help households would be to cut VAT on food. If they its ‘transitory’ this is a total lie or its delusional… take your pick

  2. Our prices are going up here too – almost too much. There are no such packages for us other than “be careful how you spend your money” and “be prepared to spend more”. It is all over the news how much the prices, especially for food, are going up.

    In Canada we have had severe flooding at both coasts (both of which produce crops and the west coast raises livestock) and fires on the prairies (which produces our wheat, among other things). Dairy – which is price controlled by the farmers (they are not subsidized here) so that they can at least break even – is going up as are eggs (same farmer price control issue)

    The price increase is due to climate disasters (global and local) and supply chain issues. I don’t see how these can be “over” by the second quarter of 2022. If they have that big a crystal ball, then maybe they can tell me the winning lottery numbers?