Greece passed the 2025 budget – a budget with almost zero deficits, strong primary surpluses, high growth rates, unemployment below 10%, inflation close to the 2% target – at a time when many European Union countries are facing an excessive deficit procedure and amidst global economic uncertainty due to geopolitical tensions, political instability in France and Germany, and the election of Donald Trump in the US.
“We are moving forward in 2025 with four priorities: fiscal prudence and seriousness, cutting taxes while reducing tax evasion, supporting growth and extroversion, strengthening social policy,” Minister of National Economy and Finance Kostis Hatzidakis said.
“The problem is de-escalating and estimates show that inflation is being limited internationally. Wage increases, both in 2025 as shown in the budget, and in the following years, will make the daily lives of households better. The difficult part of the crisis is behind us. This is not being addressed internationally with magic formulas, but with solid and responsible policies,” emphasized Hatzidakis.
In the 2025 budget, it is estimated that tax revenues will increase further, reaching 69.2 billion euros, higher by 2.4 billion euros compared to the current year.
This assumption is based on economic growth, increased private consumption and inflation, while it does not take into account any additional revenues from measures against tax evasion, which will appear in early autumn.
The government aims at revenues of 2.5 billion euros from the fight against tax evasion by the end of the four-year period.
The 2025 budget foresees, among others, 2.3% growth versus 2.2% in 2024 and 2.3% in 2023, GDP at 247.5 billion euros versus 237 billion in 2024 and 225.2 billion in 2023, primary surplus at 6.0% as well as 13 tax cuts.
