Greece's Ministry of National Economy and Finance presented the 2026 Budget and the Multiannual Fiscal Programming for 2026-2029 to the Cabinet Council, marking Greece’s first four-year fiscal plan under Law 5217/2025 implementing Council Directive (EU) 2024/1265. The programme sets multiannual fiscal objectives and consolidates all fiscal interventions legislated or announced for 2026-2029, framed as consistent with the limits in the Medium-term Fiscal-Structural Plan 2025-2028 approved by the European Council. The cost of interventions is put at EUR 3.04bn in 2025, rising to EUR 5.94bn in 2026, EUR 7.94bn in 2027, EUR 9.01bn in 2028 and EUR 10.1bn in 2029. Measures flagged for 2027 onwards include ending the offset of pension increases against the “personal difference”, abolishing ENFIA for primary residences in settlements with up to 1,500 residents, an additional 0.5 percentage point cut in social security contributions, and increases in the National Public Investment Programme from EUR 3.3bn in 2026 to EUR 4.0bn by 2029. The update also revises real GDP growth projections upwards to 2.4% for 2026, 1.7% for 2027, 1.6% for 2028 and 1.3% for 2029, with inflation expected at 2.2% to 2.3% across 2026-2029, unemployment projected to fall below 8% by the end of the period, a primary balance of 2.8% for 2026 and 2.7% for 2027-2029, and debt projected to decline from 145.9% in 2025 to 119% in 2029. Under the framework described, the Multiannual Fiscal Programming is approved by the Cabinet Council before the state budget is voted. The macro-fiscal estimates assume the Recovery and Resilience Facility concludes within 2026 and exclude any potential new interventions that may be announced for 2027-2029.

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