Greece Increases Heating Allowance by 30 Percent

The Greek government is increasing the national heating allowance by 30 percent and implementing a direct subsidy for heating oil at the pump. Kyriakos Pierrakakis, the Finance Minister and Eurogroup President, announced the dual-support measures to mitigate the impact of rising energy prices on households.

Pierrakakis stated that the priority is to "ease the pressure on families" amid a global energy crisis. The policy follows a request from Greece to the European Union to loosen spending rules, which would grant member states greater flexibility in providing financial support to citizens and businesses.

These actions mirror broader trends across Europe to combat record fuel prices. Germany has introduced temporary fuel duty cuts on petrol and diesel, while Spain has extended existing fuel tax cuts, both of which remain effective through December.