Dep. Minister Dimitris Liakos: First Targeted Tax Cuts in 2019 Budget

Dep. Minister Dimitris Liakos: First Targeted Tax Cuts in 2019 Budget

The deal reached at the June 21 Eurogroup regarding Greece's debt and exit from the programme was "historic" and "better than expected," according to the Deputy Minister to the Prime Minister Dimitris Liakos, tasked with monitoring the progress of Greece's third programme.
Talking to the Athens-Macedonian News Agency (ANA) in an interview published on Sunday, Liakos gave detailed answers regarding the significance of the Eurogroup's decision and where the country goes from here. The exit from the programme would allow greater fiscal flexibility, he noted, including the possibility of targeted tax cuts from 2019 to ease the burden on those facing the greatest difficulties.
"In practical terms, we will not start paying interest and debt repayments for the loan of the second programme until 2032. Therefore, from today there is a very clear corridor and Greece is fully regaining its access to markets, at interest rates that I consider very enticing," he said.
Liakos also pointed to the first reactions from the markets, such as the drop in Greek bond yields and the impact on exchange rates, which he said were due to the Eurogroup's decision.

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