ECONOMY

Staikouras: Price hikes likely temporary

staikouras-price-hikes-likely-temporary

Finance Minister Christos Staikouras on Wednesday said that according to estimates made by the European Central Bank and the US Federal Reserve, the phenomenon of price increases seemed to be temporary due to the rapid recovery and very strong demand.

In comments made to Skai Radio, the minister added that this phenomenon will soon be felt by consumers, noting that the government’s permanent support measures have created a “wall of immunity” but there will be more temporary interventions by the state in the coming months.

He said he has nothing to add to the prime minister’s announcements made in Thessaloniki early in the month at the moment.

Furthermore he added that there was no plan to reduce taxes on fuel, saying that a draft budget to be tabled in Parliament on Monday did not include any such intervention.

Commenting on the cost of an agreement signed with France and defense spending,

Staikouras said defense spending for the 2025-28 period has been budgeted and will be rationally distributed, pointing out that this is an additional intervention that has not been assessed.

Regarding the share capital increase plan by Public Power Corporation, Staikouras said that the state will keep 34% of PPC’s equity capital, maintaining minority rights and the management of the utility.