“In the last period Greeks have achieved at least 5 national achievements, of which we should all collectively feel proud. They are not simply the result of the efforts of the government, but of the entire Greek people, they are successes of our country.”

This was pointed out by the Minister of National Economy and Finance Costis Hatzidakis, speaking today at the 35th annual conference of the Hellenic American Chamber of Commerce.

As he specifically mentioned, Greece has achieved:

1. the largest increase in investment in the EU, by 63-64% over the last five years. “Yes, there is an investment gap but we are starting to converge. Creative Greek entrepreneurs and workers have helped in this and someone has to acknowledge this,” Hatzidakis said.

2. The biggest export growth also in the last five years across the EU. While compared to 2008, exports as a percentage of GDP have more than doubled. “And that’s what some entrepreneurs and workers have worked for. Just as we recognise the successes of athletes, scientists, and artists, let’s look at the successes of entrepreneurs and workers. We have every reason to say well done to them, regardless of who is in government,”
he said.

3. The biggest reduction in unemployment in the whole EU. “Five years ago in a country of 10.5 million, half a million Greeks who are currently working had no wages. And if they were not working today, they would be in a much worse position to face the consequences of inflation. Somehow this happened and it was not self-evident. And it has to be recognized,” the minister said.

4. Being in the top 10 of global tourism, despite the coronavirus crisis. “Greece is at the top along with big countries like the US, Britain, France, Spain, and Italy, with three times as many tourists as its population. Shouldn’t we congratulate the entrepreneurs and tourism workers? Should we not feel satisfied about this? Or should we grumble about this success?” he asked.

5. attract investment from Greek shipowners, who are a global force and now have a more visible presence in our country. “Think of how many investments have been made by Greek shipowners recently in tourism, real estate, shipyards, renewable energy. The government is trying to attract more and more of them. We don’t want bravos, we are trying to do our job. But what I am pointing out is a reality and we need to encourage it further, Hatzidakis noted.

“It is true, he added, “that we have been affected by inflation and the successive crises we have experienced. We are certainly not among the first in the EU, but we are not the last as some people insist on presenting. Greece is healing the wounds of the unprecedented crisis, but it is rising steadily thanks to the policies adopted by the government and thanks to entrepreneurs, workers, and society as a whole with the national effort that is being made. This positive development was the result of a policy based on two pillars: fiscal prudence and pro-growth policy. Neither one nor the other was a given. That is why, after all, we arrived in the last decade unable to repay what we borrowed, and why the government will insist on fiscal prudence, no matter what the sirens of populism say.”

Referring to fiscal issues, Hatzidakis stressed that without undermining the growth effort, as Greece has high growth rates compared to other EU countries, it also has the fourth-highest primary surplus in the EU and its debt is decelerating at the highest rate in the EU. As a result, analysts predict that by 2028 Greece will no longer be the most indebted country as a percentage of GDP in the EU.

“In the tax area, we are implementing a policy based on reducing taxes and tackling tax evasion. The first is easy and pro-people, and the second is difficult because it has political costs. A cost that we took on and today we can say that 2024 was the year with the best results in the battle against tax evasion in modern Greek economic history, with a net benefit of 1.8 billion euros. Never has any Greek government since the post-independence period had such tangible results compared to the Mitsotakis government. The revenues are used either to boost benefits, increase public investment, or further reduce the debt. The effort is paying off and of course from now on the revenues will be used even more to further reduce taxes,” the minister said.

While on investment policy, he pointed to the reduction of taxes and social security contributions, the completion of 13 privatizations by TAIPED and TFS, the doubling of public investment by utilizing European funds and national resources, and investment in non-state universities. “In September 2025 they will start operating,” he said, adding: “It is a positive signal of liberation from Soviet-style concepts, Greece is becoming a normal European country in this area as well. But I also underline the investment dimension. Greece can become an international educational center, it is an opportunity that we must seize.”

“We will stay”, Hatzidakis concluded, “firmly on the path of national responsibility. Correcting policies where necessary, and listening to proposals, but always without putting water in the wine of seriousness and responsibility. With a great national alliance of all the people in the political system who may have different opinions but are not prepared to be laicized, of the entrepreneurs who continue the effort, and of the workers who want their children to live in a better country, we will manage to lift Greece even higher.”