EU-X. Staikouras: Positive balance for the course of the Greek economy and strong recovery in 2021

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The course of the Greek economy has been positively assessed through the 12th Enhanced Surveillance Report, during today’s Eurogroup meeting, as Finance Minister Christos Staikouras said in a statement, stressing at the same time that “once again, all the participants recognized, targeted and effective response of the government to face the effects of the health crisis on the households and the companies”.

The Minister of Finance also stressed that “despite the unfavorable conditions caused by the pandemic and the catastrophic summer fires, the continued promotion and implementation of important reforms and structural changes was welcomed”.

He noted that “it is particularly important that the Eurogroup welcomes the intention of our country to proceed with the early repayment of the balance of loans to the IMF, as well as a significant amount of bilateral loans to the countries of the euro area, which were concluded in 2010, as part of the first fiscal adjustment program.

Prepayments which, as has been pointed out, will be of great benefit to Greece’s public finances “

“The above positive developments are in addition to today’s ELSTAT announcement, which shows that our country’s GDP grew by 13.4% in the 3rd quarter of 2021, compared to the corresponding quarter of 2020. .

The best European performance, because the average European term – until today – corresponding is less than 4% ”, underlined Mr. Staikouras. More specifically, the Minister of Finance said:

“At today’s Eurogroup meeting, among others, the course of the Greek economy was discussed and positively assessed, through the 12th enhanced surveillance report.

The government’s immediate, targeted and effective response to deal with the effects of the health crisis on households and businesses was once again recognized by all participants.

Despite the adverse conditions caused by the pandemic and the devastating summer fires, the continued promotion and implementation of significant reforms and structural changes have been welcomed.

The progress that has been made in the simplification of the authorization process for the realization of investments, in privatizations, in the administration of state enterprises, in social protection, in public administration, in the land register, in the property tax, has been certified.

It was stressed that the implementation of reforms and the implementation of investments within the framework of the National Recovery and Sustainability Plan should give a significant boost to growth, and be a springboard to strengthen the green and digital transition.

The consequence of the above was the decision to disburse the sixth package of Greek debt relief measures, amounting to 767 million euros.

At the same time, it is particularly important that the Eurogroup welcomes our country’s intention to make early repayments of the balance of loans to the IMF, as well as a significant amount of bilateral loans to euro area countries, which have were concluded in 2010, as part of the first fiscal adjustment program.

Early repayments which, as underlined, will be of many advantages for Greece’s public finances.

The above positive developments are in addition to today’s ELSTAT announcement, which shows that our country’s GDP grew by 13.4% in the 3rd quarter of 2021, compared to the corresponding quarter of 2020.

The best European performance, because the corresponding average European term – to date – is less than 4%.

In terms of level, GDP stood at 46.4 billion euros in the third quarter of 3, the highest domestic performance of the last decade!

All this confirms the strong recovery of the Greek economy.

Probably stronger than previously thought.

A recovery which, despite the many challenges and difficulties, we can all together – State, households and companies – ensure that high, sustainable and socially just development follows ”.

Source: RES-EAP

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