There will be fiscal room for new support measures, according to Kyriakos Pierakakis, Greece’s Minister of National Economy and Finance, who made the remarks during an interview on Patras-based radio station MAX FM 93.4.
Fiscal space confirmed for social measures
Pierakakis stated it is a given that fiscal space—and corresponding social support measures—will be available ahead of the Thessaloniki International Fair (DETH), where Prime Minister Kyriakos Mitsotakis is expected to announce policy details. ‘We are currently discussing the overall fiscal envelope—the total amount and the mix of specific measures the prime minister will unveil at DETH,’ he said. ‘But I can tell you from the outset: there will be space, there will be interventions, and there will be measures aligned with the broad direction we’re discussing.’
Energy-related relief and targeted investment incentives
The minister also highlighted the existence of additional, targeted measures tied to the energy escape clause—specifically designed to support energy-related investments. ‘This is a distinct component of the announcements the prime minister will make at DETH,’ he added.
Three-pronged approach to tackling cost-of-living pressures
When asked about inflation and rising living costs, Pierakakis outlined a three-pillar strategy: increasing household incomes; reducing tax and social security burdens; and enforcing strict controls against profiteering and unfair commercial practices. ‘More broadly, the best response to high living costs is more jobs—and better-paid ones. It’s about higher disposable income and an economy growing in a way that delivers tangible benefits to every household. That’s how any economic policy must ultimately be judged,’ he said. ‘I won’t claim the problem is solved—but our economic policy’s top priority is narrowing the gap between rising prices and citizens’ available income, and we’re continuously reinforcing that effort.’
Private debt relief and second-chance policies
On private debt, Pierakakis acknowledged that despite significant economic progress, many citizens still carry the weight of past financial hardship and need a genuine opportunity to restart. ‘We cannot speak meaningfully about inclusive growth without addressing their situation,’ he stressed.
He described a comprehensive ‘second chance’ policy package, including:
- a reduction in the income threshold for eligibility in the out-of-court settlement mechanism—from €10,000 to €5,000;
- the option to repay debts in up to 72 installments;
- an increase in the protected minimum bank balance—from €1,250 to €1,600;
- the ability to unfreeze bank accounts for debtors who remain compliant with their repayment plans;
- two initiatives protecting primary residences: the operation of the Real Estate Acquisition and Re-rental Agency, and enhanced safeguards for main homes under the out-of-court framework.
‘The guiding principle,’ he concluded, ‘is to support those in real need—without disadvantaging citizens who have consistently met their obligations. The aim is more sustainable debt resolutions, fewer dead ends, and more people actively participating in the economy.’
Regional focus on Achaea
The minister also touched on regional development in Achaea, though the original text cuts off before elaborating further.