The Finance Ministry analyzed the economic program announced by the main opposition party SYRIZA during Thessaloniki International Fair and stated that the program cost reaches 27.2 billion euros.

According to ministry’s statement released yesterday, the fiscal cost of the announcements which will burden the public debt will exceed 17.2 billion euros only for the first year and without taking into consideration the cost of cancelling private debts. The 17.2 billion euros “would increase the country’s deficit by about 9 percentage points of the GDP, compared to the 1.5% surplus of today, leading the country back into a fiscal crisis,” as the statement mentions.

Also, the economic team of Gikas Hardouvelis added that an increase in tax revenues of approximately 14 billion euros or 2,700 euros per year per taxpayer would be required, in order to implement the measures announced.

The detailed statement of Finance Ministry stresses that SYRIZA’s proposal for exiting the crisis is based on the wrong perception of how economy works and does not reflect the source of today’s problems.