ECONOMY

Gov’t plans earlier aid to pensioners

gov-t-plans-earlier-aid-to-pensioners

The Finance Ministry will try to provide payments owed to pensioners sooner than later in the fall, officials decided at a meeting Tuesday.

Minister of Finance Christos Staikouras thinks pensioners will need the 1.4-billion-euro infusion in September or October to boost the spending power of households whose finances have taken a hit during the difficult summer.

In other words, seniors will be called upon to bail out their children, and probably other younger relatives, by digging into their pockets.

However, no decision was reached at Tuesday’s meeting as to the timing of the disbursement.

The reason for this is that the government has other payments to make, including a third round of discounts and total exoneration of businesses and independent professionals from prepaying tax on their 2020 income. This latter measure is expected to cost the government €1-1.2 billion.

The government wants to announce an integrated package, preferably during the speech Prime Minister Kyriakos Mitsotakis will give on the grounds of the now-canceled Thessaloniki International Fair early in September.