Decrease registration duty 23.3%, Greece achieved the best relative performance among EU member states.

As the Handelsblatt newspaper explains, “This decline is mainly due to strong economic growth over the past two years, with GDP growing by 8.4% in 2021 and by 5.9% in 2022. At the same time, favorable economic conditions have increased tax revenues more than expected.”

HB emphasizes that “the financial success is even more noticeable given that last year the government distributed energy subsidies in the amount of about ten billion euros. […] Thus, the government of conservative Prime Minister Kyriakos Mitsotakis goes into parliamentary elections on May 21 with healthy public finances and opinion polls showing New Democracy’s lead of about 5%.

[…] Mitsotakis promises voters that the course towards the rehabilitation and reform of the country will continue. In the stability program it presented to the Commission last week, the Greek government is setting ambitious targets for the next four years, forecasting economic growth of 2.3% by 2023, with even 3% GDP growth expected in 2024 and 2025. “.

However, Greece remains the country with the highest debt in the EU, currently at 171.3% of GDP. Of course, “According to the European Commission, Greece’s public debt is considered sustainable because more than 2/3 of it is held by lending institutions such as the European Stability Mechanism. […] However, the country still has a long way to go to reduce its debt, and repayment of its bailout loans is not expected to start until 2034, while it will last until 2070,” concludes the finance document.

Source: DV