Draft budget will increase Greek taxpayers' burden
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Significance Clearing state arrears to the private sector depends on the quartet of international creditors' timely disbursement of financial assistance tranches. The finance ministry is in no position to generate additional tax revenue or cut expenditure. Thus, it is vital to conclude the second review of the third programme and disburse the next 2.8-billion-euro (3.1-billion-dollar) tranche. Impacts The political backlash from angry taxpayers may just be an election away. No euro-area country has achieved economic recovery after seven years of recession on the back of excessive taxation. The 2017 budget draft only increases the unequal distribution of the rising tax burden for private households and corporates.
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