Greek Prime Minister Kyriakos Mitsotakis ruled out a snap election on Sunday, saying the country would go to the polls in spring 2027, a day after unveiling €3.5 billion in tax cuts and wage increases.
His centre-right government remains ahead in opinion polls but support has fallen below 30%, from the 40.5% it won in the 2023 election, amid a prolonged cost-of-living crisis and allegations of corruption.
“Elections will be held in spring 2027,” Mitsotakis told a press briefing, dismissing speculation that an early vote could be called this year.
He said he believed his party could still secure an outright majority and win a third consecutive four-year term.
Mitsotakis on Saturday announced tax breaks and wage increases worth €3.5 billion, equivalent to 1.5% of gross domestic product, which will be introduced over the next four years.
He also pledged to bring unemployment down to 6% and reduce public debt to below 110% of GDP by 2030.
The measures include an annual €400 bonus for pensioners and €500 for public servants, while farmers and families with three children will pay no income tax on annual earnings of up to €20,000.
Advance tax payments for the self-employed and businesses will also be gradually reduced to 50%.
Greece has undergone a sharp economic turnaround since the financial crisis that began in 2009 and raised fears that the country could leave the euro zone.
The economy is now growing at an annual rate of 2%, faster than the euro zone average.
Greece expects to record a primary budget surplus of about 4% this year, twice the level initially forecast, giving the government room to fund the new measures.
(Reuters)
