ECONOMY

New subsidy program for construction

new-subsidy-program-for-construction

The construction sector and others dependent on it are in for a massive investment injection in the coming years through the new state subsidy program “Exoikonomo-Aftonomo,” which kicks off on Friday in the region of Epirus and will cover the entire country in the next few weeks.

The program provides for the 900-million-euro subsidization of upgrades to existing residential buildings for the next three years, while along with the contribution of resources from the Next Generation EU fund too, the sum of subsidies to these sectors is expected to reach up to €3 billion.

The financial impact of the program is such that it effectively doubles the annual amount of investments in Greece’s homes, as in the three years from 2016 to 2018, the sum invested in the country’s residential constructions amounted to €3.6 billion.

For Attica, the program is scheduled to start running as of Monday, December 14.