Greece´s government has increased the main Value Added Tax bracket from 19 to 21 percent.

It´s part of a 22 billion U.S. dollars austerity package, designed to cut the budget deficit by almost a third this year.

The tax hike raises the cost of fuel and most consumer goods and services in Greece.

Consumers and vendors are already worried about how the higher prices will affect them.

On Sunday, a finance ministry statement said the austerity program "appears sufficient" to meet budget saving targets.

Greece will present the first results of its austerity measures at the EU ministerial meetings Monday and Tuesday.

The government says it is looking for political rather than financial backing.