Greece is preparing to implement additional measures to mitigate the economic impact of the ongoing conflict in the Middle East, which has driven up fuel prices and exacerbated the cost of essential goods, according to Development Minister Takis Theodorikakos.
Speaking on the weekend news program MEGA Saturday-Sunday, Theodorikakos described the situation as “the most difficult, dangerous, and painful crisis with heavy economic consequences” that the country has faced in recent years. He noted that the conflict affects a strategically important region for global oil and gas production, as well as key trade routes connecting Europe and Asia, amplifying its economic repercussions.
“The most immediate risk for us is inflation,” Theodorikakos said, warning that rising prices could quickly reach households and strain citizens’ budgets. He confirmed that the government is studying a range of alternative measures to protect the economy and support households.
The minister highlighted recent steps, including a profit cap on fuel and essential goods, as part of broader efforts to prevent profiteering. He emphasized that tackling the cost-of-living crisis will require a combination of measures, including adjustments to wages, tax reductions, and ensuring fair competition in the market.
“Additional measures are certain to be taken,” Theodorikakos stated, noting that the government is actively coordinating with fuel retailers and monitoring the situation closely to implement effective solutions.
