Real estate market reports and Greek government announcements

Greek Parliament Approves 2025 Budget with €6.13 Billion Defense Spending

Dec 15, 2024, 03:31 PM

The Greek Parliament has approved the 2025 state budget with 159 votes in favor and 139 against. The budget includes a near doubling of defense spending to €6.13 billion from the initial €3.6 billion, a move justified by Defense Minister Nikos Dendias as necessary to create an anti-aircraft and anti-drone shield over Greek territory. Prime Minister Kyriakos Mitsotakis highlighted the budget's approval as a testament to the government's economic stability and growth, despite global economic challenges. Mitsotakis also announced measures to reduce bank charges, cap fees on money transfers, and double the ENFIA tax on properties managed by banks and servicers starting in 2026 to encourage market entry, aiming to release approximately 25,000 properties. Additionally, he outlined plans to support low-income pensioners and uniformed personnel, including free access to medications for 310,000 EKAS beneficiaries and recognition of the hazardous nature of services provided by 150,000 uniformed forces.