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DISY-DIKO agree on €100m social support package

November 28, 2018 at 9:29am
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DISY and DIKO are reported to have reached agreement on a €100 m package to support vulnerable groups, as well as borrowers and tax payers.

They include an increase in pensions and a reduction in the excise tax on fuel

The agreement follows a meeting between the presidents of DISY and DIKO Averoff Neophytou and Nicholas Papadopoulos with the ministers of finance and labour on Tuesday.

Phileleftheros said agreement was reached on three measures:

  1. €33m for borrowers who have their primary residence as collateral. The money will be used to subsidise interest payments. The scheme will modelled on the Estia scheme for vulnerable groups with NPLs, using the same income and property criteria, but is aimed at borrowers who are servicing their loans.
  2. A 5 cent cut in the excise tax on fuel which is expected to cost €45m.
  3. An increase of €50 in lowest pensions, at an annual cost of €22m, starting from 2019.