Greece hopes higher investment and tax cuts will help power economic growth next...
ATHENS - Greece hopes higher investment and tax cuts will help power economic growth next year as the country recovers from a decade-long debt crisis.
“The draft budget ... signals the economic policy’s radical turn to growth, employment and income increases,” Deputy Finance Minister Thodoros Skylakakis said in an accompanying statement. As well as broadening the tax base, the conservative government wants to cut taxes for businesses and increase social spending next year. The policies it plans are worth 1.2 billion euros, the budget said, and will help spur growth.
The government, which came to power in July, has said it wants agreement from official lenders on lowering the 3.5% of GDP budget surplus target in 2021 and 2022.
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