The government intends to extend the reduced tax rates on motor fuels—which are set to expire at the end of the month—through March 2027. The relevant proposal is expected to be approved by the Cabinet in the very near future, as announced by Makis Keravnos, who also anticipates a positive response to the request submitted to the European Commission for a further reduction in the excise tax on heating oil.
“Based on our communications so far, I sense a positive attitude. We will continue to press our case and further substantiate our positions until we receive what is rightfully ours, especially for an economy that generates surpluses.”
Makis Keravnos – Minister of Finance
ΣΧΕΤΙΚΑ ΑΡΘΡΑ
Oil prices are plummeting
Against the backdrop of the fiscal results published by the Statistical Service, which show a significant increase in public revenue during the first nine months of 2026, the Minister of Finance comments that this is not linked to higher prices, but primarily to consumption.
“With increased consumption, it is possible to see increased VAT revenue. However, for there to be increased consumption, it means there is also disposable income.”
Makis Keravnos
Regarding the decline recorded in development spending, Makis Keravnos notes that this is simply a delay in the implementation of specific problematic projects—as he described them—that the current government inherited.
Watch the report by Rafaella Stavrinou:
