The first “leftist” budget for 2016 was tabled today by Finance Minister Euclid Tsakalotos which will be voted on December 5^th.

“I have the honor to submit the state budget for 2016,” Mr. Tsakalotos said before handing over the budget and the relevant USB stick to President of the Parliament Nikos Voutsis.

Mr. Voutsis explained that the discussions on the budget will begin on Wednesday, November 25 and it will be introduced in parliamentary session on Tuesday, December 1 and will end with roll call voting at midnight on December 5 after holding five meetings.

The Finance Ministry expects to get about 2.5 billion euros from reducing costs, while it plans to increase its revenues by 3.2 billion euros mainly through imposing new taxes, the reform of the VAT rate, VAT hike on gambling and increasing the tax amount freelancers and farmers should pay in advance.