On Wednesday, Finance Minister Makis Keravnos, on Wednesday, following the Cabinet’s approval of the relevant bill, which will be submitted to the House of Representatives for a vote in December.
In his remarks following the conclusion of the Cabinet meeting, Mr. Keravnos noted that the 2027 budget totals €11.1 billion, representing an increase of approximately 470 million compared to last year’s 2026 budget.
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He also said that the growth rate in 2027 is expected to hover around 2.9%, despite the fact that there are encouraging signs that it could exceed 3%, while unemployment is expected to remain at current full-employment levels, with a downward trend.
He added that the budget balance for 2027 is projected to be in surplus and is expected to rise to 2.8% as a percentage of gross domestic product, compared to 2.3% in 2026; meanwhile, the primary balance is expected to rise to 4% of GDP, compared to 3.6% in 2026.
Regarding inflation, he said it is directly affected by fuel prices, with the estimate projecting a rate of around 4%.
Source: CNA
