New four-year economic package from Greek Prime Minister Mitsotakis

Greek Prime Minister Kyriakos Mitsotakis announced to the public a four-year economic package that includes tax cuts and salary increases, in order to regain the support that has declined in opinion polls before next year's general elections.

Mitsotakis, who made his annual economic speech in Thessaloniki, stated that the package, which will cost 3.5 billion euros (4.06 billion dollars) by 2030, corresponds to 1.5 percent of the gross domestic product (GDP).

Within the scope of the measures, it is envisaged that retirees will be paid an annual bonus of 400 euros and public employees will be paid a bonus of 500 euros.

In addition, annual incomes of farmers and families with three children up to 20 thousand euros are exempt from tax, while advance tax payments for freelancers and businesses are reduced by 50 percent.

Referring to the distance the country has come in his speech, quoted by Reuters agency, Mitsotakis said, "The path from bankruptcy and being on the periphery of Europe to the epicenter of Europe has been a long one," and said that it is time to reap the fruits of the efforts.

The Prime Minister also announced that the minimum monthly wage, which is currently 920 euros, will be increased to 1000 euros with annual increases until 2028, a half-point reduction in the retirement premiums of private sector employees will be made, and wholesale electricity prices will be reduced by 30 percent by 2029.

Mitsotakis also shared his goals for the next four years; He said that he aims to reduce unemployment, which is currently 8 percent, to below 6 percent, reduce the ratio of public debt to GDP below 110 percent, and increase the average monthly salary from 1500 euros to 1800 euros.

Mitsotakis added that he aims to raise the country's debt rating from "BBB" level to the "A" category.