September 24, 2023

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Greece announces further subsidies to ease fuel, energy costs

Athens : Greek Prime Minister Kyriakos Mitsotakis has announced the extension of a subsidy for fuel consumption for the next three months, to ease the burden on budgets of households and businesses amid the ongoing international energy crisis.

Consumers who received 35 to 55 euros ($37-58) for consumption of gas for cars and motorcycles in the second quarter of this year, will now receive 60-100 euros for July until October, Mitsotakis said on Tuesday during a cabinet meeting.

More motorists will also be eligible for the subsidy, with income criteria thresholds changing to include the middle classes, Xinhua news agency reported.

Total state subsidies for fuel have reached 580 million euros, and direct and indirect aid to ease energy price hikes stands at 8 billion euros, the Prime Minister told Greek national broadcaster ERT.

The sum includes subsidies for electricity consumption for households and businesses, and a programme to be launched in the coming days to help consumers replace 400,000 old electrical appliances, such as air conditioners and refrigerators, with energy-efficient ones.

Greece’s annual inflation rate hit 11.3 per cent in May, a 29-year record, the Hellenic Statistical Authority (ELSTAT) said earlier this month.

The increase was attributed mainly to the rise in energy costs over the past year.

Natural gas prices increased by 172.7 per cent compared to 2021, and electricity prices by 80.2 per cent, ELSTAT added.

Fuels and lubricants prices increased by 36.6 per cent compared to May 2021, according to the official data. (1 euro = $1.06)

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