Greek Parliament authorizes 2025 state budget, projecting 2.3 percent GDP growth
Date
12/16/2024 1:43:45 AM
(MENAFN) On Sunday, the Greek Parliament approved the 2025 state budget, projecting a modest 2.3 percent gross domestic product (GDP) growth for the year. This forecast is slightly higher than the 2.2 percent growth estimated for 2024. The budget received support from 159 members of Parliament, with 139 votes against, out of a total of 298 votes. The passage of the budget marks a significant step in the country's economic planning for the coming year, reflecting the government's ongoing efforts to steer Greece toward sustained growth.
Prime Minister Kyriakos Mitsotakis addressed Parliament before the vote, stressing that the budget was based on "realism" and grounded in practical economic assumptions. He emphasized the government's commitment to maintaining fiscal discipline, highlighting the importance of safeguarding the progress made by Greece in overcoming the debt crisis that plagued the country between 2009 and 2018. Mitsotakis reaffirmed that the Greek economy has been on a path to recovery, and the government intends to continue this trajectory while ensuring financial stability.
In addition to the measures already announced when the budget was initially presented, Mitsotakis unveiled further initiatives aimed at supporting Greek households and businesses. A key part of his announcement focused on reforms in the banking sector, which he stated would help ease the financial burden on everyday citizens and encourage more competitive financial services in Greece.
One of the most notable reforms involves the elimination of commission fees for public utility bill payments and small interbank transfers. Mitsotakis also outlined government actions to foster greater competition among Greece's banks, aiming to provide better interest rates for both deposits and loans. These measures are intended to reduce costs for consumers and stimulate the broader economy by making banking services more accessible and affordable for the public.
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