New Greek PM Mitsotakis Says Tax Cuts to Be Legislated

Greece's new prime minister, Kyriakos Mitsotakis, vowed Wednesday to make government more efficient and to legislate for tax cuts later this month despite concerns raised by the country's creditors over economic promises made during the election campaign, the International New York Times reported on an Associated Press story. Although Greece no longer relies on funds from international bailouts, its economy is still under strict supervision and its partners in the 19-country eurozone have made clear that the fiscal goals agreed to by the previous government must be adhered to. The country emerged from its third and final international bailout last year, but has committed to meeting stringent targets for years to come, including producing an annual 3.5% annual primary surplus — the budget without interest on debt — until 2022. Read more

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