Benefit for newborns being voted in Parliament

Benefit for newborns being voted in Parliament

Lawmakers are voting on Tuesday on draft legislation that foresees a special 2,000-euro bonus for all babies born in Greece from January 1, 2020, to parents earning less than 40,000 euros a year.

The bonus is intended to boost birthrates in Greece, which has seen births shrink by 10 percent in the past four years and is projected to see its population decline from 10.4 million in 2020 to 9 million in 2050, or 13.4 percent, according to recent reports.

The 2,000-euro, tax-free benefit will be disbursed in two equal installments to mothers or parents that declare up to 40,000 euros of income a year and will also cover non-Greeks who can show that they have lived in the country for 12 years or more.

Total expenditure for the baby bonus is expected to come to 123 million euros in 2020 and 170 million euros every year after that.

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