The Greek Government is planning that the main source of financing of energy subsidies in 2023 should be the taxation of oil refineries, which is expected to bring up to 600 million euros.
The Government’s goal is not to miss the budget target of a primary surplus of 0.7 % of GDP in 2023. Therefore, a windfall tax on refineries is an opportunity, as it is not budgeted and therefore its provision will not increase costs or compromise the objective set. However, the amount that will be available through these levies is not yet clear. The decisive factors will be the price of natural gas, which has recently started to rise again, but also the course of the country’s gross domestic product.
The new energy subsidies mechanism for 2023 should be announced following the 2023 state budget approval in the Parliament on 17 December.
