K. Karagounis: We will continue the reduction of insurance contributions

The Deputy Minister of Labor and Social Security, Kostas Karagounis, stated that the government will continue to reduce insurance contributions, despite the significant cost to the budget.

Speaking to ERT, Mr. Karagounis said that the goal is for the reduction to reach 5.9%, without disrupting fiscal stability. He also referred to the payment of over 250 million euros to cover the personal difference for low-income pensioners.

The Deputy Minister stressed that the reduction of insurance contributions is important for businesses, as it allows them to pay higher wages, while also announcing a new increase in the minimum wage. Regarding pensions, he said that there will be a new increase, after the 2.4% of the previous year.

He also referred to the increase in the revenues of insurance funds, due to the reduction of unemployment to 7.9% and the creation of 500,000 new jobs. He also highlighted the contribution of the digital work card to the increase in the funds' revenues, through the declaration of overtime.

Finally, Mr. Karagounis referred to the increase in the audits of the Independent Labor Inspection Authority and the signing of collective labor agreements with salaries above 950 euros.