Economy and Finance Minister Kostis Hatzidakis was upbeat about the prospects of the Greek economy going forward, while attending a meeting of the Athens Chamber of Commerce and Industry (ACCI) board held earlier in the week, according to an ACCI announcement on Wednesday.
Talking about future economic developments and policy priorities at the meeting on Monday, Hatzidakis said that “the Greek economy is expected – despite the adverse and uncertain international environment – to continue overperforming in the coming years.”
Specifically, according to a statement by the Chamber, the minister said:
“The Greek economy is expected – despite the unfavourable and uncertain international environment – to continue to outperform in the coming years. For 2025, the draft budget forecasts a growth rate of 2.3% compared to the 1.4% estimated for the Eurozone. At the same time, the new Medium-Term Fiscal-Structural Programme 2025-2028 foresees a very significant reduction in public debt to 133.4% of GDP in 2028, thanks to higher-than-European-average growth rates, which will bring the country’s GDP to 272 billion euros in the same year. Similar positive developments will be seen in the area of unemployment.
The government will continue to implement an economic policy that is supported by:
– Fiscal seriousness.
– Improving the business environment by reducing taxes and social security contributions in conjunction with tackling tax evasion.
– In the pursuit of a robust banking system that provides liquidity to businesses and households.
– Strengthening investment, both public and private, through the use of, inter alia, the resources of the NSRF and the Recovery Fund.
– Utilisation of public assets through privatisation and actions on public real estate.
– Incentives for innovation and mergers.
On her part, the president of ACCI Sofia Kounenani-Efraimoglou noted that the draft state budget for 2025 confirms the good course of the Greek economy in 2024 and the good prospects for the next year.
“The business world recognises every positive step in the field of economic policy. And this recognition is not restricted to words only but has throughout this time been translated into new business initiatives, new jobs and increased tax revenues. In this context, and always in line with the progress in achieving the fiscal targets, we expect the tax reduction interventions for businesses and individuals to continue in the coming period,” she said.
In addition, Efraimoglou proposed the creation of a permanent mechanism to support businesses against sharp fluctuations in energy costs, “as this is a critical issue that will continue to concern us as the conflicts in the Middle East escalate”.
SOURCE; ANA-MPA
