Staikouras: Additional tax reliefs when fiscal space created

The government is developing its own debt sustainability models in order to ask for lower primary surplus targets by 2020, Finance Minister Christos Staikouras said on Sunday in an interview with ‘Nea Selida’ newspaper, adding that he is optimistic the target can be achieved.

He stated that when the necessary additional fiscal space is created, there will be additional tax reliefs with the priority being the reduction of the solidarity levy and the further reduction of the Uniform Real Estate Ownership Tax (ENFIA).

On the Hercules plan, the finance minister estimated that it will lead to a significant reduction of over 30 billion euros or more than 40 pct of the non-performing loans, leaving open the possibility of additional interventions in the new year which will further reduce bad loans.