Finance Minister Makis Keravnos has announced a package of five support measures. These initiatives aim to offset the impact of the upcoming abolition of the zero-tax rate on fuel consumption at the end of the month.

In a Cabinet meeting, Keravnos detailed the first measure: extending the targeted electricity cost subsidy scheme for two additional months, May and June. This measure, with an estimated cost of €5 million, will benefit over 400,000 households and 100,000 businesses, covering residential consumers, vulnerable groups, commercial, and industrial users.

The second measure extends the zero VAT rate on essential household items, including bread, milk, eggs, baby diapers, baby food, meat, and vegetables, until the end of June, incurring a cost of €6 million.

Keravnos's third measure focuses on supporting family incomes. Targeted one-off payments will be made in May, June, and July to households receiving welfare benefits, particularly those with child benefits. Single-parent families with an annual income below €19,500 and a maximum savings limit of €10,000 will receive €100 for the first child and an additional €50 for each subsequent child, up to a maximum of €250. Families with over four children will receive an extra €100. This initiative will assist 5,562 single-parent families. For families earning up to €25,000 annually with a maximum savings limit of €15,000, the same one-off payment structure applies. This part of the measure is set to benefit 10,233 families. Households on the Guaranteed Minimum Income (GMI) scheme, not covered by the above criteria, will receive a one-off payment of €100 per month for three months, aiding 17,458 households.

The fourth measure involves a €100 monthly one-off payment to individuals receiving a mobility allowance as Persons with Disabilities. This €1.3 million initiative will benefit around 4,200 individuals.

Lastly, the fifth measure provides a monthly support of €100 to 28,000 low-income pensioners.

"The total package is valued at €35.3 million, impacting 400,000 household consumers, 100,000 businesses, 33,253 families, and 28,000 low-income pensioners," Keravnos stated.

Addressing the issue of fuel prices, the Minister acknowledged the rise in the cost of living due to external factors and geopolitical developments, assuring that the government prioritizes targeted measures to support the most vulnerable. He noted that, starting April 1, with the expiration of the zero VAT rate on fuel, prices are expected to be lower than in November 2023. Specifically, unleaded gasoline 95 octane will see a reduction of 5.3 cents per liter, and diesel by 11.8 cents per liter.