Greek PM Promises Pensions Increase, Tax Cuts, and Wage Hike Amid Protests

Greek Prime Minister Kyriakos Mitsotakis announced plans to increase pensions, cut taxes, and raise the minimum wage in 2025 during his annual economic policy speech, amid protests over the high cost of living. He also addressed various fiscal measures to support citizens and maintain economic stability.

In an ambitious agenda, Greek Prime Minister Kyriakos Mitsotakis vowed to boost pensions, cut taxes, and increase the minimum wage in 2025. The announcement came during his annual economic policy address at the Thessaloniki trade fair in northern Greece.

Mitsotakis outlined plans to raise pensions by up to 2.5% and gradually escalate the monthly minimum wage from 830 euros to 950 euros by 2027. He also proposed a reduction in social security contributions by one point, and the abolition of a special levy on the self-employed next year.

Despite rising economic growth projected at 2.5% this year, Greece is still grappling with the aftereffects of a severe debt crisis (2009-2018) and recent challenges including the COVID-19 pandemic and natural disasters. Citizens rallied in Thessaloniki, protesting the high cost of living and demanding fair wages.

(With inputs from agencies.)