Greece pledges €100 million annually to help businesses hit by rising energy costs

The Greek government plans to provide €100 million annually over the next five years to support industrial enterprises and small businesses struggling with rising energy expenses.

Stavros Papastavrou, Energy Minister, said on April 6 that the country has also secured €200 million in EU subsidies for companies in the aluminium, copper, cement, metallurgy, and woodworking sectors implementing energy-saving projects, Caliber.Az reports, citing foreign media.

“It's a substantial package of actions to boost competitiveness. We remain on alert, as ​it's obvious that the intensity and size of ​the Middle East crisis affects us all,” Papastavrou emphasised.

The minister noted that Greece’s energy supply is secured for the coming months, but future forecasts remain uncertain due to unpredictable external factors.

The country relies heavily on oil imports from the Middle East, making it vulnerable to global energy price fluctuations.

Athens last month announced subsidies for fuel and fertilisers ​and ferry ticket discounts worth a total ​of ⁠300 million euros ($346.68 million) in April and May to help consumers and farmers.

By Bakhtiyar Abbasov