The cost of government intervention to address this problem will reach 6 billion euros in 2022. energy crisisthe finance minister said yesterday. Christos Staikourasadding that, combined with the health crisis, the cost rises to 50 billion euros.

Himself, as well as Deputy Minister of Finance Theodor Skylakakis agreed in interviews yesterday that price dynamics for natural gas and electricity are the biggest source of concern financial staff. With its continuous jumps, it constantly increases the cost of state support measures and is a factor of great uncertainty in the planning of economic policy. From 45-50 euros per MWh a year ago, the price of natural gas is now in the region of 230 euros per MWh, exceeding all government forecasts. The situation in budget it has been saved so far by a good GDP exchange rate, also thanks to tourism, which, combined with high inflation, brings higher incomes than forecasts. Thus, the increased cost of support measures is compensated, but, of course, there is a limit to this.

Features, in Ministry of Finance reported that from the original support cost estimates, because of this electricity– from the budget from 800 million euros in the second half of the year, we have now gone to 1300-1500 million euros, and if the price of natural gas remains at the level of 230 euros, then the cost will reach 2 billion euros. Something that sharply limits the scope for new support measures from the government, if it does not want to exceed the primary deficit of 1% of GDP.

The scale of the problem also highlights yesterday’s numbers. ELSTATaccording to which Greek imports from Russia in the first half of this year increased to 3.5 billion euros from 1.6 billion in the same period in 2021. This is an increase of 112.3% mainly due to energy.

The only economic measure that has “fixed” is the continued subsidization of electricity tariffs for households and SMEs, Mr Skilakakis told SKAI. Mr. Skilakakis noted that one has to be a Kalchas forecaster in order to predict natural gas prices, and this is a problem that prevents the government from doing continuous planning.

In this context, Finance Minister Kristos Staikouras yesterday wanted to lower expectations for a large fiscal space and therefore many benefits for TIF created by a €5.1 billion revenue excess in the 7th month of January to July, which was announced . the day before yesterday. Mr. Staikouras, in an interview with the 1st program of ERT, said that the figures are satisfying, but not exciting. According to him, not all of the 5 billion euros are associated with a good course of the economy. He pointed out that almost €1 billion of the repayable advance received in June has no permanent characteristics, as it corresponds to a lump sum payment of 1/3 of the amount due, and not in installments. In addition, it is estimated that more than 1 billion ENFIA collections will be completed later this year.