The cabinet on Wednesday approved a new €70 million package of emergency measures to tackle inflation and the rising cost of living, bringing total government support, including measures already in place, to approximately €160 million, according to Sigma.

Announcing the decision following the cabinet meeting, Finance Minister Makis Keravnos said the additional measures fulfilled the government’s commitment to supporting households facing increased living costs.

The package includes an extension of electricity subsidies, VAT reductions on essential products and photovoltaic systems, and a one-off payment of €200 to 53,511 vulnerable citizens. 

Financial assistance for residents of mountainous areas will also be increased.

Keravnos said the government was able to introduce the additional measures because of its economic policy, which he said had generated budget surpluses while reducing public debt.

The new package follows the government’s earlier cost-of-living interventions, with the combined value of existing and newly approved measures now estimated at approximately €160 million.