Greece has made the biggest financial improvement in Europe in 2022, according to the finance minister. Christos Staikourasat the conference “Greek Economy: Sustainability – Progress – Prospects”.
As Mr. Staikouras stated, the primary deficit was brought to zero in 2022, that is, a year ahead of the target, and the country is returning to a surplus from this year.
The Minister stated that over the past four years, the Greek economy has managed to withstand shocks and close the capital of the past, attract investment interest, transform and strengthen.
He also noted that the Greek economy is highly resilient, and then gave a report on the work of the government:
- Lower taxes and social security contributions, mostly for the middle class.
- Establish tax incentives for investment and repatriation of young people.
- Citizen support.
- Strengthening disposable incomes of citizens (increasing the minimum wage by 20%, increasing pensions, housing loans for youth, etc.).
- Strengthening the financial system.
- Carrying out a balanced fiscal policy.
- Larger pan-European fiscal improvement despite more generous measures in Europe.
- Return to European normality.
According to Chr. Staikoura, it is quite possible to restore investment grade in 2023.
The finance minister then said that the Greek economy is growing at one of the fastest rates in Europe, the public debt as a percentage of GDP is falling significantly, and the production model is changing.
He also stressed that Greece has charted a new path and is moving along an encouraging path, but stated that the situation remains difficult and unstable, and acknowledged that mistakes have been made along the way, which the government is trying to correct through the reorganization of the state. from populist logic. We must build a more productive state, he said.
He also made special mention of Eurogroup President Pascal Donahue, thanking him for his help. Finally, he expressed his appreciation that citizens will once again trust New Democracy so that the same path can be continued in the economy.
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Source: Kathimerini
Lori Barajas is an accomplished journalist, known for her insightful and thought-provoking writing on economy. She currently works as a writer at 247 news reel. With a passion for understanding the economy, Lori’s writing delves deep into the financial issues that matter most, providing readers with a unique perspective on current events.