Capital Link Invest in Greece: We continue to outperform growth expectations Minister of Finance, Christos Staikouras said

ΣΧΕΤΙΚΑ ΑΡΘΡΑ

PM Mitsotakis: Our economy must continue to outpace EU’s, in order to raise Greek incomes

Greece ‘European economy’s pleasant surprise,’ FinMin says after IMF meetings in Washington

Standard & Poor’s upgrades Greek economy outlook to ‘positive’ from ‘stable’, Hatzidakis statements

The Greek Minister of Finance, Christos Staikouras, Keynote Speaker of the Forum, presented his speech with the title:  «GOVERNMENT ECONOMIC POLICY & OBJECTIVES»

H.E. Christos Staikouras, in his speech he stated:

«H.E. Christos Staikouras, Minister of Finance, stated in his speech: “In these turbulent times of ongoing high uncertainty and instability, reinforcing the resilience and competitiveness of our economies is a major challenge. Governments are called upon to work together and develop timely, effective and farsighted policies. In the case of Greece, during the last three years, the Government has been planning and implementing policies reflecting the aforementioned principles and resulting in important achievements, as confirmed by all ‘stakeholders’:

• 1st. We continue to outperform growth expectations.
• 2nd. GDP composition positively changes.
• 3rd. Labour market developments have been positive.
• 4th. The banking sector has made, and continuous to make, marked progress.
• 5th. Public finances have resumed their improving trajectory.
• 6th. Public debt is on record-level reduction path.
• 7th. Country’s credibility is strengthened.

Overall, the Greek economy, despite the challenging circumstances, has achieved strong recovery and sustainable growth, has reduced unemployment, has improved public finances and has implemented specific, wide-ranging reform commitments.

However, we still face elevated uncertainty and upside risks, mainly related to energy prices and inflation.

Thus, it is of outmost importance to continue implementing a growth-friendly, fiscally prudent and reform-oriented economic strategy, based on 7 pillars:

• 1st pillar: Implementing targeted measures in order to tackle the economic effects of multi-level crises, especially for the most vulnerable part of the society.
• 2nd pillar: Following a credible and prudent fiscal policy.
• This, along with optimal utilization of available resources, is the “central direction” in our roadmap for achieving investment grade status.
• 3rd pillar: Enhancing liquidity to finance investment in the real economy, through the deployment of the Public Investment Budget and the implementation of the Recovery and Resilience Plan.
• 4th pillar: Implementing ambitious structural reforms, including the primary health care reform, the codification of the labour legislation, ongoing reforms in the financial sector, as well as the implementation of the Asset Development Plan.
• 5th pillar: Implementing a smart debt issuing strategy, based on low average annual gross financing needs and proactive liability management, which allows maintaining substantial cash buffers.
• 6th pillar: Implementing measures to create new jobs and increase the disposable income of citizens, along with exercising social policy for the most vulnerable citizens.
• 7th pillar: Strengthening national defense, with increased spending on weapons systems purchases.

Evidently, despite difficulties and international volatility, Greece has turned the page, on to a new chapter.

However, we still face lingering uncertainty, significant challenges and downside risks related to energy prices and inflation. We are fully aware of the difficulties that arise, but we also have the ability, experience and knowledge to continue working hard and methodically, preserving all that we have achieved and capitalising on our progress, in order to further strengthen the Greek economy and to improve the country’s prospects».

PM Mitsotakis to attend EUMED-9 Summit that is hosted by Spain