The Greek government will distribute over €1 billion ($1.2 billion) in surplus government funds to families and pensioners that have been hit by austerity, according to an announcement by Prime Minister Alexis Tsipras.
An additional €360 million ($422 million) will go to the Public Power Corporation to help ensure that energy prices don’t go up in 2018.
The “social dividend” payments, which will be made in December, are possible thanks to the country’s bigger than expected budget savings.
Tsipras said that €720 million ($845 million) will be distributed to roughly 3.4 million lower and middle income families.
The tax free payments will vary based on the size and income of families.
Another €315 million ($370 million) will be given to pensioners in the form of rebates for health care payments.
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