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> Economy

Hardouvelis stops the early expectations

If the revenue goes up, taxes will be reduced

Newsroom June 11 08:01

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As of today the new Finance Minister Gikas Hardouvelis is thoroughly informed on all matters of economic policy that he will handle and he referred only to what citizens should expect from him. But, he stated some of his intentions.

– The first objective is the “balanced budget”. Mr. Hardouvelis avoided to talk about continuous “primary surplus” each year, betting on a negotiation with the Troika to relax the strict binding targets set in the medium term program.

– “We should take care of the businesses and households”. He probably has in his mind social benefits and reducing taxes.

– “In the Finance Ministry we have to take into account the numbers”. This determines the time we should expect any relief measures for the citizens. Mr Hardouvelis ruled out any twist in economic policy and immediate economic benefits that would have a great social and national costs.

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– “We need to continue to be reliable”. Mr. Hardouvelis did not connect “credibility” with the dictates of” good “or” bad “Troika. But he considers it necessary “in order to change the course of investments” in the country.

– “The number of the problem loans in banks is too big”. By this statement Mr. Hardouvelis marks the “general cleanup” that he wants to make so that banks can also help in restructuring the private sector.

– “Greece can not be only a country of consumption”. Mr Hardouvelis reveals his intention to deal not only with the crisis management, but also with the change of the development model of the country.

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