“The bill concerns the incorporation of two directives of the European Parliament, regulates and addresses critical issues requested by the market and necessary for the proper functioning of business activity in our country,” the Minister of Development Takis Theodorikakos during the passage of the bill on Sustainability Reports.

He continued that it is fully linked to the Ministry of Development’s strategy, which was presented in a comprehensive manner on October 21.

“Productive reconstruction of the Greek economy means a stronger industry, greater competitiveness of the Greek economy, facilitating entrepreneurship, linking research and innovation to the market, more productive private investment, hence more jobs,” said Minister of Development and stressed the importance of reducing the trade deficit, which remains persistent and high.

The industry and manufacturing have strengthened, the country’s exports have increased, but we want this to be multiplied, he said. “It is a national necessity and a national policy.”

Investments

Speaking on the content of the bill, Theodoricakos stood on the preservation of the flagship investment institution after the completion of the RRF and its expansion to three critical sectors: the naval industry, the cyclical economy and critical raw materials.

“Already we have approved four flagship investments related to our defence industry, our country’s self-sufficiency in paper and alcohol, and the safety of our aviation and civil protection services,” he further said, adding that “the legislation for the flagship investment institution had to be timed to happen now because RRF funding ends at the end of 2025.”

Price control measures and intensive market controls

Theodoricakos stressed that price control measures are being maintained until the end of April 2025 and stood by their effectiveness, as national and international indicators admit. According to ELSTAT, food inflation is at 0.6%, much lower than the eurozone average of 2.9%. Also, growth in the third quarter of this year is at 2.4%.

At the same time, intensive controls are continuing throughout the market, with new digital tools, and the DIMEA audit of 26 large companies – among them all multinationals – and over 2,500 codes is being completed.

“Laws are laws and they apply to everyone, whatever the power of each. We move with this logic, with democratic and institutional responsibility. Fines are not about communication, it is about the application of the law,” he pointed out.

The Minister of Development also referred to the independent Competition Commission, which is being strengthened with 50 new members and every request is being met to do its job even better, stressing also that “only the independent Competition Commission and no one else does cartel checks in the market.”

She pointed to high rents as a very big problem for those who by necessity live on rent and struggle to make ends meet in their daily lives, saying that other interventions should be made to support these people.

From December 18, the Christmas Basket

Theodoricakos also stressed that from December 18, the Christmas Basket will also come into effect so that parents, uncles and godparents can buy their children gifts at affordable prices.

Also, the 3% cap on professional leases is extended for another year as requested by the trade community, and he also said the bill will include the views of employees in sustainability reports.

Finally, in response to SYRIZA MP Nikos Pappas, regarding accuracy, Theodorikos recalled that the increases in products in recent years are also the result of the fact that the global economy was closed for two years due to the coronavirus. “During this period, the government gave 50 billion euros to households, workers and businesses. The 8 billion euros was for wages alone,” the Minister commented.