TEF: The package of measures will be “locked” at the last minute – What will be judged by?

TEF: The package of measures will be “locked” at the last minute – What will be judged by?
TEF: The package of measures will be “locked” at the last minute – What will be judged by?

Within the next week and literally a few hours before the TIF, the content of the package, which will be announced by Prime Minister Kyriakos Mitsotakis, will crystallize.

At the moment there is a long list of fully costed measures, drawn up by the Ministry of Finance, but as pointed out by government officials, none of the measures have been locked down except for a few, and this is because the prime minister wants to have in front of him the whole picture of the course of the economy, but the clarification of the Commission’s intentions for interventions in the energy sector.

So shortly before the Prime Minister goes to the TIF and makes the relevant announcements, next Saturday, September 10, there will have been a series of announcements and decisions that will shape the environment, but also give a better picture of the course of the economy.

Above all, the prime minister wants to know what “weapons” he will have in his quiver for the difficult winter that is forecast.

A key point in the formation of the final package is the attitude and determination that Brussels will show towards energy precision and especially in relation to natural gas and electricity.

There are not a few who believe that this time there will be decisions, however they keep a small basket and this because in the recent past many expectations were rejected.

Much depends on next week’s announcements

Within the next week, two very important figures for the course of the economy will be officially announced. One is growth for the second quarter of 2022 and the other is inflation.

At the same time, a better assessment will have crystallized both for the course of August revenues and tourism.

The announcements from ELSTAT on the amount of growth will be made next Wednesday, September 7, with all estimates converging that it will be better than expected, not only for the 2nd quarter but overall for 2022, which will certainly help and create additional fiscal space, in order to support society in this difficult situation caused by energy precision.

Two days later, specifically next Friday, September 9, ELSTAT will announce August inflation, which is estimated to shrink, even marginally, for the second month in a row.

The ECB meeting is scheduled for Thursday, in which a new interest rate hike will be decided in order to curb inflation. The increase in interest rates by 50 basis points is now considered a foregone conclusion, but there is no lack of voices insisting on the need for greater intervention, by 75 basis points, to curb inflation which for August reached record levels in the Eurozone, reaching 9.1%.

There will also be a better picture of public revenues with the first estimates indicating that August was also an excellent month, similar to the previous ones, mainly due to VAT.

Finally, as far as tourism is concerned, the picture continues to be good and everyone now takes it for granted that the revenues of 2019 will be exceeded, causing a new record of receipts that may reach 20 billion.

Source: newsit.gr

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The article is in Greek

Tags: TEF package measures locked minute judged

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