A draft bill outlining the handouts for low-income Greeks heralded by Prime Minister Alexis Tsipras on Monday night was to be submitted to Parliament on Tuesday with the aim of it being approved by Thursday.
Tsipras announced plans on Monday to distribute 1.4 billion euros of the country’s fiscal surplus – derived primarily from the overtaxation of the country’s middle income earners – to citizens on low incomes.
He said 720 million euros of this so-called social dividend will go to 3.4 million citizens in the form of a one-off financial handout.
Another 315 million euros will be paid to pensioners who had been illegally forced to pay health insurance contributions in the period between 2012 to 2016.
The remaining 360 million euros will be given to the Public Power Corporation (PPC) to prevent further hikes in the price of electricity.
Unlike similar handouts announced by Tsipras last year, this year's social dividend has been approved by the country's international creditors.