Finance Ministry preparing four-year strategy to be unveiled at TIF

The Ministry of National Economy and Finance is preparing the package of measures to be announced at the Thessaloniki International Fair (TIF) amid heightened uncertainty.

The measures will be determined based on the developments in the Middle East and the mix of measures that may need to be extended or introduced within the year, particularly in relation to energy and inflation. Following the implementation of a series of tax relief measures at the beginning of the year and two support packages totaling 800 million euros aimed at addressing inflationary pressures in food and energy, the government is now focusing on shaping a new package of measures targeting employees, businesses, self-employed professionals and property owners.

Referring to the last TIF before the elections, Minister of National Economy and Finance Kyriakos Pierrakakis recently stated in an interview that the prime minister’s announcements “will, in some way, resemble what you saw last year,” placing particular emphasis on those most in need.

The government’s economic team is already aware that, based on current data, the fiscal space for 2027 amounts to 1 billion euros. “Therefore, we know what we want to do, and the announcements to be made by Kyriakos Mitsotakis at the TIF will not simply be aimed at the next elections. They will primarily look toward the next four years — but, I would say, toward the next generation,” he noted. However, the final amount will be determined closer to September and the prime minister’s announcements, as according to reports the focus will be on improving citizens’ everyday lives through permanent measures. “As a government, we do not want to focus on the short term… Last year as well, when we achieved a better-than-expected surplus, we mainly chose to adopt permanent measures,” Pierrakakis added.

Measures under consideration

Discussions currently include permanent tax cuts for businesses and individuals, reducing the tax burden on labor and further strengthening disposable income. Reducing advance tax payments for businesses, abolishing the business levy for legal entities and further lowering social security contributions are among the measures included on the economic team’s agenda.

In addition, further initiatives are being examined, such as reducing taxation on rental income, adjusting the presumed income criteria applied to self-employed professionals, as well as introducing another reduction in employers’ social security contributions in 2027, greater than the half percentage point already announced.

Based on the revised forecasts of the economic team regarding inflation and growth in 2026, pensions are expected to increase by 2.6% as of January 1, 2027. Furthermore, the “personal difference” mechanism in pensions will be fully abolished in 2027, resulting in approximately 500,000 pensioners receiving the full percentage increase for the first time.

Within the week, the draft law aimed at tackling illegal gambling is expected to be released for public consultation. It will also include a supplementary budget of 800 million euros, as well as most of the extraordinary and permanent support measures already announced, such as:

• a 150-euro allowance for each child, with expanded income criteria;
• an expansion of the beneficiaries eligible for the annual rent refund, as well as the introduction of a two-rent reimbursement for public sector employees serving away from their place of residence — including doctors, teachers and nurses;
• a ban on new short-term rental licenses, such as Airbnb-type rentals, in central Thessaloniki;
• an increase in the permanent pensioners’ allowance from 250 to 300 euros, to be paid next November. This measure will also apply to widows from the age of 60 instead of 65, which currently applies to other beneficiaries.

The same draft law will also include the inclusion of young farmers in a special electricity tariff scheme, reducing their energy costs, as well as the taxation of online betting companies, from which the state is expected to generate stable annual revenues of approximately 100 million euros.

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