A relevant alternate finance minister on Wednesday told a Parliament committee that no new austerity measures will be included in a draft budget for 2018, which will be tabled on Nov. 21 for debate and a subsequent vote.
Minister Giorgos Houliarakis added that a so-called “social dividend” will reach 0.6 to 0.7 percent of 2017’s GDP. The leftist-rightist coalition government has promised to dole out up to 1.1 billion euros – money expected from surpassing a primary budget surplus target for the year – to what it considers as weaker social strata.
Additionally, he said the primary budget surplus for 2017 – based on terms in the current bailout program – will reach 2.8 percent of GDP, with the government aiming for a portion of this sum – 0.6 to 0.7 percent of GDP – to be funnelled back into social spending. He added that family and income criteria will be employed to funnel state money towards economically disadvantaged households.
