Significant relief for thousands of taxpayers comes with the government’s new legislative initiative, which provides for an increase in the protected limit on bank accounts. The relevant provision will be incorporated into the upcoming bill to combat illegal gambling, which, according to clarifications from sources at the Ministry of National Economy and Finance, is expected to be passed by Parliament within June.
The official announcement of the measure was made on Friday from the Parliament floor by the responsible minister, Kyriakos Pierrakakis.
From €1,250 to €1,600: the new protected limit
The new regulation changes the landscape for protecting debtors’ deposits, as the protected limit is expected to jump to €1,600, from the €1,250 that was in effect until now.
In this way, the economic team aims to leave greater liquidity margin for citizens facing mandatory collection measures, while ensuring a higher amount to cover their basic daily needs.
