BUSINESS

Dombrovskis : Greece must stick to agreed fiscal targets

TAGS: EU, Economy

Greece must attain the fiscal targets is has agreed with its creditors, European Commission Vice President Valdis Dombrovskis said on Wednesday, commenting on the handouts and tax cuts announced by Greek Premier Alexis Tsipras on Tuesday night.

“It's important for Greece to stick to agreed fiscal targets,” he was quoted by Bloomberg as saying, adding that there need to be more extensive and in-depth discussions with Greek authorities on what these measures mean.

Tsipras on Tuesday announced a series of pension handouts and tax cuts in a last-ditch attempt to shore up support for his leftist SYRIZA ahead of local authority and European elections on May 26, while also declaring measures for 2020.

They include a permanent benefit for pensioners who saw their monthly payments cut during the crisis years – some 800 million euros is to be distributed to retirees – as well as a series of cuts to value added tax.

Economic Affairs Commissioner Pierre Moscovici, made it clear on Tuesday that the scrapping of a planned reduction to the tax-free threshold, as well as the tax breaks planned for 2020 and the additional handouts announced by the government will be the object of negotiations with creditors.

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