Cabinet Meeting
All eyes will be on Greece’s Minister of Finance and Economy Kostis Hatzidakis and Deputy Minister Thano Petralias as they present the country’s 2023 financial statements for approval and the 2025 state budget.
Meanwhile, the Minister of Infrastructure and Transport, Christos Staikouras, will present a bill on the organizational reform of the railway sector, as well as the bill for the incorporation of Directive 2022/2381 regarding the improvement of gender-balanced representation in executive positions of listed companies and gender-balanced representation on boards of directors.
Greece’s Minister of Shipping and Island Policy, Christos Stylianidis, will present legislative proposals to improve the organization, supervision and management of the country’s port system, as well as the upgrade of the ministry’s infrastructure.
The Ministers of Environment and Energy, Theodoros Skylakakis, and Rural Development and Food, Kostas Tsiaras, will present omnibus bills for their respective portfolios.
About the 2025 Budget
Greece’s 2025 state budget was submitted to its Parliament on Wednesday, Nov. 20 and, in a video on social media, Greek Prime Minister Kyriakos Mitsotakis presented the budget as a “socially focused plan” aiming to strengthen Greece’s economy amid global uncertainties.
The budget includes €1.1 billion in additional permanent measures for citizens and businesses compared to 2024. Key features include salary increases, tax cuts, 2.3% GDP growth (above the EU average), and further public debt reduction, with a projected debt-to-GDP ratio of 147.5%, the lowest since 2010.
Mitsotakis emphasized fiscal responsibility, highlighting a higher-than-expected primary surplus of 2.5% of GDP due to enhanced tax revenues, reduced tax evasion, and lower unemployment.
The additional funds from taxes will be reinvested in infrastructure, health, education, and support for vulnerable groups, said Mitsotakis. Digital reforms, like linking cash registers with POS systems, have reduced VAT gaps, with further tools planned for 2025.
Acknowledging inflation and energy cost pressures, the PM says the budget introduces includes policies for affordable housing, permanent wage and pension increases, and initiatives to boost regional cohesion.
Investments include a €300 million data center by Data4 and Amazon’s wind farms in northern Greece. Environmental measures feature the Island Decarbonization Fund and successful waste management initiatives like the one on Tilos island. Additionally, the “Gigabit Voucher” program supports high-speed internet access for households and SMEs.
