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The creditors have not yet given the green light to Tsipras' social dividend

The creditor institutions of Greece have not yet given the green light to the distribution of a social dividend of 1,400 million euros announced Monday night by the Hellenic Prime Minister, Alexis Tsipras.

Athens, Nov 14 (EFE) .- Greece's creditor institutions have not yet given the green light to the distribution of a social dividend of 1,400 million euros announced on Monday evening by the first Hellenic minister, Alexis Tsipras.

According to European sources to the Greek economic newspaper Naftemporiki, the details of this distribution are currently being discussed, and although the Proposals "in general seem to be in line" with what has been negotiated, consultations are still underway.

"The announcements (of Tsipras) should be studied and the debate with the authorities should still be completed, "they added.

One of the points announced by Tsipras that still arouses reservations is, according to the same source, the transfer of 360 million euros to the DEI electric company so you can continue to keep the bill down to low-income households.

The creditors fear that it could constitute an indirect subsidy for part of the State, which is prohibited by Community legislation.

Tsipras announced last night in a televised address that had not been scheduled to distribute 1,400 million euros of this year's fiscal surplus among retirees and low-income citizens.

Of this total, 720 million will be distributed as extraordinary aid to 3.4 million citizens with annual income less than 9,000 euros gross (double in the case of families).

The aid will range between 250 and 900 euros depending on the income of the beneficiaries.

Others 315 million will be used to compensate retirees who paid excessive health insurance contributions from 2012 to 2016, contributions that must be returned according to an opinion recently the Supreme Administrative Court.

Tsipras explained that this "social dividend" has been made possible thanks to the improvement of the economy of the country and of the "intense and hard work" to reduce public spending without reducing salaries and social assistance ", as well as to combat corruption, waste and tax evasion".

"For the first time in a decade, the economy it will register a growth near 2% ", affirmed the prime minister, in a speech whose reactions on the part of the opposition were not made hope.

The main force of the opposition, the conservative New Democracy, maintained that the dividend promised by Tsipras will be to the detriment of the middle classes, and only constitutes a small amount in comparison with the millions of euros that has "stolen" the people through tax increases, which "has destroyed the middle class and impoverished the poor even more."

Nevertheless, New Democracy announced today that will vote in favor of the social dividend when the draft law is presented in Parliament.

The Government estimates that this year the primary surplus will be around 3% of the Domestic Product Gross, which far exceeds the 1.75% expected in the program of measures associated with the third financial rescue of the country.

Part of this surplus will be allocated, as highlighted today by the economic press, to create a cash reserve to prepare the following exits to test the financial markets and to have a security cushion in case Eurostat revises some of the figures for this year.

Tsipras' announcement coincided with the leak in the Greek media of a report by the European Commission (EC) on the progress of the program associated with the third rescue until July of this year.

In the aforementioned report, the EC highlights that the Greek economy "has resisted better than expected in a difficult environment, the financial objectives have been surpassed, and structural reforms were launched in the Treasury, business, energy, privatizations and public administration. "

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