Shortly after 10 am, Prime Minister Kyriakos Mitsotakis passed through the doors of the Ministry of Development as part of his visits to ministries following the reshuffle.

There, he was welcomed by the new Minister of Development, Takis Theodorikakos. Addressing inflation is a priority for the government.

Kyriakos Mitsotakis is focused on interventions to curb the wave of inflation, as well as broader developmental sectors that impact disposable income, such as direct investments. Yesterday’s mandates on inflation were favorable, with Greece recording 2.4% in May, compared to 2.6% in the Eurozone. However, the issue remains unresolved, as prices, particularly in supermarkets, have risen to unsustainable levels.

The political mandate received by the new Minister of Development, Takis Theodorikakos, is to confront market distortions. This will be the spirit of Prime Minister Mitsotakis’ visit today to the Ministry of Development.

The Prime Minister will set the tone for policy priorities in this field, and it remains to be seen if there is room for new interventions beyond implementing existing measures and tackling the distortive practices of multinational companies. Mr. Theodorikakos, however, appears willing to continue measures that challenge supermarkets, such as mandating reduced prices to enable promotional activities. In the coming days, he is also expected to hold a series of meetings with market stakeholders and institutional representatives, sending the message that the government will not tolerate excessive profitability.