Kyriakos Pierrakakis spoke about the two new legislative initiatives of the Ministry of National Economy presented at today’s Cabinet meeting in a Facebook post.

Specifically, he said:

“With Deputy Ministers George Kotsiras and Thanos Petralias, we presented two new legislative initiatives of the Ministry of National Economy and Finance to today’s Council of Ministers:

🔷The reform of the National Customs Code and
🔷The incorporation of the new EU Financial Management Framework.

With the new bill, we are modernizing and codifying the provisions of the Customs Code. We are harmonizing national legislation with EU legislation and, at the same time, adopting best practices for customs procedures and controls.

By digitizing all customs procedures, we save costs and time. We enhance transparency, accountability, and traceability of inspections by implementing strict rules for those attempting to conceal information from the authorities.

We are modernizing the rules and providing exemptions for the transfer of personal belongings for those who have left the country to work abroad and wish to return permanently to Greece (brain regain).

The incorporation of Directive 2024/1265 will contribute to a comprehensive representation of the fiscal management cycle. With its implementation, regulations concerning the fiscal framework will be updated and simplified, while the rule of net expenditures will be established.

Based on the new European provisions, even if the economy performs exceptionally well, we will not be able to exceed the expenditure limit we have agreed upon. However, if the economy does not perform as expected in any given year, we will utilize reserves to address difficulties without needing to implement restrictive measures.cle. Its implementation will update and simplify regulations relating to the fiscal framework and establish the net expenditure rule.

Based on the new European forecasts, even if the economy outperforms, we will not be able to exceed the spending limit we have agreed. But if the economy does not perform as expected in any year, we will use the buffer to deal with difficulties without the need for restrictive measures.”