In 2022, our country’s gross fixed capital formation reached $15 billion, double the 2013 low. Foreign direct investment exceeded 7 billion, reaching a record level. And our exports this year can overcome the 100 billion barrier, and a significant part of it is technological products.

Is all this enough? Of course not. Recently, only the formation of fixed capital exceeds consumption, that is, we stop the withering of the country’s investment fabric and begin to add. The country’s production model is changing, but it is not yet where we want it to be. Achieving our goal will require a multi-year investment. The energy transition just because of the climate crisis requires significant investment in the coming years.

And instead of debating how to attract more and better investment to fill the investment gap, the public debate is being spent demonizing foreigners or raising taxes. Some key observations: investment growth has been strong so far in all sectors. We are not talking about investing primarily in “real estate”, as they say from time to time. (And, of course, almost all investments – even in technology – also have some real estate. Microsoft data centers, for example, despite the spread of fake news, are operating normally and will be built on a piece of land in East Attica, not in the metaverse). And participation in the share capital of a company by a foreign investor, in addition to the know-how that it brings to our country, also weakens domestic oligarchs.

The discussion of dividend taxation is almost surreal. The opposition says for the first time: “Vote for higher taxes.” The supposed taxation of the “rich”, which after all also includes the middle class, is another version of PASOK’s “money exists”. But also a hidden program of tax increases. The reality shows that the rate cut led to an increase in tax revenues. And the New Republic cut a total of 50 taxes and fees worth $7 billion. From there, the real reform will be to further crack down on corporate tax evasion. This is the goal for a second four-year term, if we are re-elected. A difficult goal, but a fair one.

How will Greece intervene? We have not heard from the opposition how we will attract more investment to our country, how we will change our production model. Instead, PASOK simply removed their program from their website, replaced it with a four-page wish list, and then re-uploaded it as a “consultation text”. And SYRIZA told us that it would tax “excess profits.”

The discussion of dividend taxation is almost surreal. The opposition says for the first time: “Vote for higher taxes.”

However, first of all, investments concern citizens. Investment creates jobs. Over 250,000 in the last 4 years. And the best wages. Wages in Greece remain low and should rise. Citizens are tested for accuracy. We are being asked how the goal of a 25% pay rise over the next 4 years will be achieved. Obviously also at the expense of investment! Investment makes the pie bigger for everyone and brings progress.

And, of course, the increase in tax revenue from optimal economic policies also creates fiscal space for social spending on health and education. We aim to increase investment by 70% by 2027. And repair 80 hospitals and 156 clinics. The bigger the pie, the stronger the welfare state.

Our country is looking to the future. Confidently, boldly, forward.

Mr. Alexis Patelis is the financial adviser to former Prime Minister Kyriakos Mitsotakis.