Currently, Greece’s 2025 Draft Budget Plan has been approved by the European Commission, and is in compliance with the EU’s public expenditure limits and financial guidelines.
The Greek parliament will vote on Sunday on whether to approve the draft and move forward. Traditionally, parties in the opposition such as PASOK and SYRIZA, will most likely vote against the draft, but some say due to changes in military funds, they will think twice about their vote. Taking a deep look at the draft, there are some notable changes to be expected.
GDP is expected to raise by 0.1%, while unemployment is expected to drop down to 9.7% compared to its 2024 current 10.3%. Government spending is expected to grow by 3.6% while the national debt is expected to decline by 4.6%. The national debt is currently at 153.7%, and if this estimate is correct, the national debt will fall to 149.1% of GDP. Yes, the national debt is expected to fall, but still remains at a high point compared to the national GDP of the country. Education funds will increase from 9,429 million euros to 9,583 million euros. Spending on health and employment is also expected to rise in 2025.
All eyes now wait for Sunday night, if the Hellenic parliament will go forward with this draft. In the end, the parliament will decide how the nation will allocate its funds in the years to come.