Greece will scrap financial institution charges and costs for some retail transactions as a part of measures to assist households address a cost-of-living disaster, Prime Minister Kyriakos Mitsotakis stated on Sunday.
His centre-right authorities additionally plans from 2026 to double the property tax for about 25,000 actual property properties that banks have on their books and will not be in use, because it tries to spice up the availability of housing and cut back rents.
Addressing Greek parliament, earlier than it accepted the 2025 state funds which places progress at 2.3% subsequent 12 months, Mitsotakis stated that Greece can even legislate a 0.5 euro ceiling on cash transfers as much as 5,000 euros.
Greece, he stated, plans to scrap costs on transactions with the state and utility firms.
He stated the time was ripe for interventions and the measures have been reasonable and in step with fiscal stability.
Lenders’ revenues from charges and costs on retail transactions whole about 200 million euros yearly. The discount of costs might value banks dozens of million euros yearly, in keeping with analysts.
Greece’s 4 main banks have lower their non-performing mortgage ratio to under 6%, from 45% in 2017. They registered earnings of three.8 billion euros ($4.00 billion) in 2023 and plan to distribute dividends from 2024 earnings for the primary time in 16 years.
Mitsotakis, whose get together has lately seen a drop in opinion ballot rankings, stated that an extra 100 million euros from the banking system would fund the renovation and building of colleges.
This text was produced by Reuters information company. It has not been edited by World South World.
