The primary surplus of the state budget has exceeded the initial target by four times, reinforcing the estimates of the government's economic staff that this year the fiscal performance of the economy will also move at record levels.
Based on the positive data, the government's economic staff is already working on proposals for tax cuts for the middle class, economic aid for vulnerable groups, in addition to interventions for housing, so that the final government decisions on the prime minister's announcements at the TIF will be taken in August. Based on the statements of the Minister of National Economy and Finance Kyriakos Pierrakakis, after the approval of the escape clause at the Eurogroup, the plans for the TIF package concern interventions with a fiscal cost of 1.5 billion euros.
The government has already announced that the TIF package will include new tax cuts for the middle class and salaried workers, aid for the vulnerable and interventions for housing. Among the measures on the table for discussion are:
Tax cuts for middle-income earners.
Tax relief for families with children to support families, while the scenarios also include an increase in the tax-free threshold.
Reduction of the tax burden on rental income, while providing incentives to owners to place their vacant homes on the market.
Aid to tenants to cope with the high cost of rent.
Arrangement to unblock urban planning and put 35,000 properties currently in the portfolios of banks and servicers on the market for sale.