Greek Tax Relief Plan Falls Short of Covering Child-Rearing Costs
The tax breaks cover only a fraction of the financial burden. At the Thessaloniki International Fair, Greek Prime Minister Kyriakos Mitsotakis unveiled changes to the country's tax system that will take effect next year. The reforms lower rates across all income brackets and provide additional cuts for families with children. The initiative was billed as a key measure to support the middle class and particularly young parents, who have been hit hard by rising living costs. Yet when weighed against the actual cost of raising a child in Greece, the tax breaks cover only a fraction of the financial burden. Data from the Hellenic Statistical Authority show that in 2022, a childless couple spent on average €1,340 a month. For families with one child, the figure rose to €2,385-an increase of about €1,050 each month. Adjusted for inflation, the additional annual cost of raising a child comes to €12,941. Over an 18-year period, this amounts...
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