Greek Parliament Approves 2025 Budget with 159 Votes, Includes €1.1 Billion Tax Cuts and €0.50 Cap on Fees

Dec 15, 2024, 05:35 PM

The Greek Parliament has approved the 2025 state budget, concluding a five-day debate. The budget received 159 votes in favor and 139 against. Prime Minister Kyriakos Mitsotakis emphasized the budget's focus on economic growth and social cohesion, highlighting tax cuts exceeding €1.1 billion, and measures to eliminate fees for basic banking transactions. Additionally, he announced a cap of €0.50 on wire transfer fees for amounts up to €5,000. The budget also includes a significant increase in defense spending, with 258 votes supporting this aspect, amid concerns regarding threats from Turkey. The approval reflects a broad consensus among various political parties, including New Democracy, PASOK, and SYRIZA, despite some dissent within the latter regarding defense expenditures. Mitsotakis asserted that the budget marks a step towards recovery from previous economic crises, aiming for stability and growth in a challenging global environment.