Seven axes of interventions to shield the economy from international instability were presented by the Deputy Prime Minister, Kostis Hatzidakis, speaking on Thursday evening at an event of the Greek-Italian Chamber of Commerce in Athens.

In response to President Trump’s announcement of the imposition of tariffs, Hatzidakis said that despite the fact that only 5% of Greece’s exports go to the US, it would be a mistake to assume that we are not affected.

“I have to note this, as a deputy prime minister and as a former finance minister, because there are certainly spillover effects on the European economy, and therefore on the Greek economy,” he said. “A major global economic and trade war has begun. I want to hope that it will end as soon as possible, but let us have no doubt. In economic wars there are no winners. There are only losers.“

Hatzidakis stressed that both the European Union and Greece must be armored with careful moves that enhance their competitiveness, autonomy and resilience. “We need to be more competitive. We need to strengthen our autonomy in strategic sectors such as energy, raw materials, to reduce our exposure to international economic shocks. And of course we must have the institutions and mechanisms to stand up even in the most adverse conditions. To withstand crises, but also to take advantage of them, as we are trying to do with the Recovery Fund as an opportunity to transform and accelerate the necessary changes.”

The axes of interventions, according to a statement by the Vice Presidency of the Government, are codified as follows:

1. attracting even more investment, including by reforming the Institutional Framework for attracting Foreign Direct Investment. At the same time, actions are being taken to:

* Further simplification of the business environment, with the aim of reducing administrative burdens by 25%.

* Further acceleration of the administration of justice.
* Further acceleration of the administration of justice.

* Completion this year of the National Cadastre, promotion of Local and Special Urban Plans.

* Implementation of the new law on incentives for innovation and mergers.

2. Strengthening the financing of the real economy, through the provisions of the bill under discussion in the Parliament, for further strengthening of the Capital Market, utilization of the NSRF and the Recovery Fund in conjunction with the Development Bank to support especially the liquidity of small and medium-sized enterprises.

3. Strengthening extroversion. A key objective is to penetrate two very large markets, which are India and China, by simplifying and further digitizing customs procedures and providing incentives for exports.

4. Upgrading infrastructure. In addition to the energy infrastructure, which allowed Greece to become a net exporter of energy in 2024 after many years, critical projects such as: the extension of the Thessaloniki Metro, the construction of the new international airport in Kastelli Heraklion, the development of regional ports, the promotion of the fiber optic network are progressing.

The development of the infrastructure projects, including the development of the development of the airport, the extension of the infrastructure for the development of the intermodal network, and the promotion of the development of the fiber-optic network.
5. Expanding the productive base of the Greek economy. “There has already been a significant increase in the participation of industry in GDP in recent years. Greece is gradually changing. And the government’s goal is to strengthen this change in sectors such as health technologies and applications, robotics, the defense industry and ship repair and shipbuilding,” Hatzidakis noted.

6. Human resources. “The changes are also reflected in the reduction of unemployment, which has fallen to 8.6%. We are reinforcing this effort with massive employee training programmes, with an emphasis on skills certification, so that the resources spent are worthwhile, and on boosting the participation of women, young people and people with disabilities in the labour market,” he said.

7. Fiscal policy and taxation. “I am proud because when I left the Ministry of Finance, I handed over to my successor not only a primary surplus, but a regular surplus,” the deputy prime minister said, adding: “This policy combines debt reduction with strong growth rates by European standards and no previous effort to curb tax evasion. And it has allowed us so far – and will allow us even more from now on – to have tax cuts and a social dividend that returns to the citizens.”

“Greece,” he concluded, “has been transformed from a black sheep of the European Union to an example of success. No matter how much some people want to diminish this effort, reality, international organizations, international analysts, all the individual data show that we are on the right track. What we promise is that we will continue on the same path, correcting mistakes where necessary, but without promising miracles.”