Mitsotakis Unveils Ambitious Four-Year Economic Revival Plan

Greek Prime Minister Kyriakos Mitsotakis announced a comprehensive four-year plan aimed at economic recovery. The strategy includes tax breaks, wage hikes, and fiscal measures totaling €3.5 billion. Despite leading in opinion polls, his government faces challenges due to a cost-of-living crisis and corruption allegations.

Greek Prime Minister Kyriakos Mitsotakis unveiled a robust four-year economic plan on Saturday, aiming to revitalize Greece's economy with tax breaks and wage hikes. These initiatives, expected to cost €3.5 billion by 2030, are designed to improve economic conditions ahead of the upcoming election, as the ruling party's support wanes amid financial challenges and political scandals.

The measures include an annual bonus for pensioners and public employees, zero tax rates for certain income brackets, and a reduction in advance tax payments for businesses. Despite a favorable GDP growth rate of 2%, outstripping the euro zone average, public dissatisfaction lingers over high living costs and recent corruption cases. Thousands of farmers protested in December over low prices and a farm aid fraud scandal.

Mitsotakis highlighted Greece's economic comeback since the 2009 financial crisis, boasting a projected 4% primary surplus this year. The plan also outlines substantial salary increases, reductions in pension contributions, and a targeted decrease in unemployment and national debt, while aiming for an upgrade in the country's debt rating.