Mar 10 • 06:53 UTC 🇬🇷 Greece Naftemporiki

Greece set to unveil measures to support citizens

The Greek government plans to announce measures aimed at protecting citizens from profiteering practices amidst rising fuel prices and economic concerns.

In response to escalating fuel prices and concerns over profiteering, the Greek government is preparing to unveil a series of measures to support its citizens. These measures may include capping profit margins for fuel and supermarket goods as early as this week. The rise in oil prices, recently reaching 100 dollars per barrel, has heightened worries about inflation and its potential impact on consumer spending, pressing the government to act swiftly.

As fuel prices climb, surpassing even unleaded petrol prices in some markets, financial experts caution that unchecked inflation could rise to around 4.7% if such trends persist. The new European fiscal regulations provide some leeway for member states during times of crisis but simultaneously emphasize the importance of prudent public finance management. This conflicting guidance places additional pressure on the Greek government's economic team as they navigate the challenges of maintaining fiscal stability while responding to immediate needs.

Additionally, the current situation underlines the urgency for economic strategies that can mitigate the effects of rising living costs on households. With a scenario of prolonged high oil prices already factored into projections for the 2026 budget, the Greek government must balance immediate consumer protection with long-term growth and sustainability in an increasingly unpredictable global economic environment.

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