In a detailed breakdown of policies outlined by Prime Minister Kyriakos Mitsotakis at the Thessaloniki International Fair (TIF), National Economy and Finance Minister Kostis Hatzidakis on Tuesday said the ministry will adopt on four main axes for economic policy - including the adoption new measures amounting to one billion euros to support incomes.

Hatzidakis, during a press conference with his deputy ministers Haris Theoharis and Thanos Petralias, said the ministry's four policy directions would concern the banking system (to increase liquidity for households and businesses), cracking down on tax evasion, boosting incomes while continuing to work toward a 0.7 pct of GDP primary surplus target and measures to deal with natural disasters.

Theoharis outlined planned measures to limit the use of cash and use technology to combat tax evasion, with mandatory electronic transactions and invoicing in many areas, increased fines for use of cash in transactions exceeding 500 euros and stricter controls for short-term leases, among others, with stiffer penalties for transgressions.

Petralias announced a series of measures boosting the income of pensioners and those receiving the minimum guaranteed income, as well as sundry other measures targeting specific groups and areas. The cost of the above measures is estimated at 2.5 billion euros for the two-year period 2023-2024, without counting compensation for natural disasters.

For natural disasters, the ministry has drawn up a supplementary budget of 600 million euros and set up a separate account with 600 million euros per year from the public investments programme.

There are also plans for new infrastructure projects amounting to 2.2 billion euros financed by the NSRF and Recovery Fund, a climate change levy on short-term leases raising 240 million euros annually, mandatory insurance for buildings and inventory after 2024 for large businesses and mobilising private initiative.