Social dividend seen ranging from 500 to 1,000 euros

Social dividend seen ranging from 500 to 1,000 euros

By the end of the week, the government is expected to announce how a social dividend drawn from the primary surplus overrun will be distributed to some 200,000 households.

The dividend was announced on Saturday by Prime Minister Kyriakos Mitstotakis during his address to ruling New Democracy’s party congress.

He said it will be distributed to vulnerable segments of society before Christmas. Greece, he said, has “covered the fiscal gap and created additional fiscal space.”

“We have focused on the positive measures. And now I announce that about 200,000 weaker Greek households will receive a one-off benefit before Christmas,” he said, adding that the measure will help large families, the most vulnerable among the long-term unemployed, and families with disabled members.

Moreover, Deputy Labor Minister Domna Michailidou told Skai TV on Monday that the dividend will range between 500 and 1,000 euros for each beneficiary. 

According to reports, the dividend will be distributed on the basis of property and income criteria. If the dividend does indeed range between 500 and 1,000 euros for the some 200,000 beneficiaries, then the total amount that will be distributed will be between 100-200 million euros.

The total surplus overrun, according to the budget, is estimated to reach 436 million euros. The government reportedly wants to keep a safety cushion of at least 200 million euros, if not 300 million, so it can also use at least a part of it to pay Public Power Corporation (PPC) for public services to the tune of 150 million euros.

Meanwhile, Finance Minister Christos Staikouras told Skai TV on Saturday that the planned reduction of the so-called solidarity levy as well as the annual fee to practice a profession will begin before 2021.

He also that said there is the likelihood of a further reduction in the ENFIA property tax in 2020.

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