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Tue, Oct

Mitsotakis Announces Price Cuts Starting September 1

Mitsotakis Announces Price Cuts Starting September 1

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Greek Prime Minister Kyriakos Mitsotakis said Monday that consumers will see further price reductions starting Sept. 1, as he highlighted efforts to tackle inflation and lower the cost of essential goods.

Speaking at a Cabinet meeting, Mitsotakis described inflation as the biggest issue affecting Greek households. He said prices for basic foods, including cooking oil, fruit and vegetables, are already lower this month than in July.

He also pointed to the National Price Reduction Agreement, which will take effect Sept. 1, along with initiatives by businesses targeting school supplies.

Recovery Fund enters final phase

The prime minister also discussed the completion of Greece’s Recovery and Resilience Facility program on Aug. 31.

He recalled that in July 2020, Greece secured the European Union’s largest Recovery Fund package as a share of GDP, totaling €36 billion in loans and grants.

According to Mitsotakis, the use of the funds helped increase Greece’s GDP relative to the European average, significantly boosted investment at a time when investment was declining in many other countries, and accelerated major

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