Greek 2019 budget changes mixture of fiscal policy, Chouliarakis says

Τhe Greek 2019 state budget is gradual changing the mixture of fiscal policy, lowering social insurance contributions and taxes as a first step in a medium-term strategy of tax reductions towards 2022, Alternate Finance Minister George Chouliarakis said on Wednesday.

Speaking during a debate on the state budget in a Parliamentary Budget Commission, Chouliarakis said that “50 pct of fiscal expansion covers the need to lower tax burdens and a special property tax”. He added that the 2019 budget strengthens social protection, spends an additional 400 million euros for the introduction of a new protection measure – rent subsidy and vulnerable households’ protection – and spends a small sum on subsidizing job positions for young people aged less than 24 years old. “This is not made at the expense of the public investment programme, as the main opposition says, since budget provisions on public investment in 2019 are stable at 2018 levels,” he noted.

“Our choice is a difficult road between fiscal balance – which must be preserved at all costs – and fiscal expansion for social support,” Chouliarakis said.