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New Greek PM to Respect All Fiscal Targets in Draft 2020 Budget

  • The newly elected Prime Minister of Greece Prime Minister Kyriakos Mitsotakis has said that his government will submit a 2020 budget later this year. The budget will completely follow the fiscal targets agreed upon by the previous Syriza government with the lenders of Greece. The 2020 draft budget will reportedly not disrupt the fiscal balance of the country and will also not dispute “the primary surplus targets for the years 2019 and 2020”. He assured that the new government will seek to lower the “primary surpluses to more realistic levels” in 2020. Mitsotakis (who came to power with the pledge of lowering taxes and speeding up investment) has assured lowering of corporate taxes from 28% to 24% in 2019 and taxation on dividends from 10% to 5%. The new Greek PM added that the highly unpopular property tax will be brought down by an average of 22% in 2019.