Prime Minister Kyriakos Mitsotakis expressed his satisfaction with the new upgrade, the second in a row, of the Greek economy by Fitch in his weekly review, setting the goal of becoming an A-rated economy, reaching the highest rating grade of foreign agencies as soon as possible.

“Why is this upgrade important? Or to put it more popularly, as some in the opposition ironically put it, is the investment grade of the Greek economy being ‘eaten up’? The answer is that when we did not have it in the last decade we were certainly starving as a people,” Mitsotakis says.

“But there are also entirely practical reasons that illuminate the importance of our credit rating upgrade: the faster repayment and de-escalation of Greek public debt leads, according to the Public Debt Agency, to savings of about 800 million euros. And this is money that instead of going to debt servicing, stays and returns to the pockets of citizens through increased social spending, tax cuts, and increased incomes, like the one we just voted for with the TIF package announced in September and already implemented this month. Our goal now is to become a Class A economy, that is, to reach the top rating of foreign agencies as soon as possible. This is where all countries that have ensured the prosperity of their citizens with good incomes, a robust economy, social cohesion and quality public goods are also at,” he said.

The Prime Minister’s weekly review

Good morning. Although we are well into November, the weather is nothing like the end of autumn. It is one of those moments that remind us, almost silently but insistently, that climate change is not a distant warning, but a reality we are already living. And this “paradox” of the weather becomes yet another occasion to take a clearer look at our challenges and our responsibilities, which I will discuss below.

But before that, I want to start with the good news on the Greek economy that arrived late Friday night, when another upgrade – the second in a row – of the Greek economy’s credit rating by Fitch was announced. Why is this upgrade important? Or to put it more popularly, as some in the opposition ironically put it, is the investment grade of the Greek economy being “eaten up”? The answer is that when we didn’t have it in the last decade we were certainly starving as a people. Because it is the confidence of foreign markets and investors in the credit rating of the Greek economy that gives the signal that we have an increasingly attractive investment environment, secure public finances and – most critically – political stability, which is the most important thing for risk-taking and the implementation of long-term investment projects. But there are also entirely practical reasons that shed light on the importance of our credit rating upgrade: faster repayment and de-escalation of Greek public debt leads, according to the Public Debt Agency, to savings of around EUR 800 million. And this is money that instead of going to debt servicing, stays and returns to the pockets of citizens through increased social spending, tax cuts and increased incomes, like the one we just voted for with the TIF package announced in September and already implemented this month. Our goal now is to become a Class A economy, that is, to reach the top rating of foreign agencies as soon as possible. This is where all countries are that have ensured the prosperity of their citizens with good incomes, a robust economy, social cohesion and quality public goods.

I return now to the issue of climate change. Protecting our country from natural disasters cannot wait. And this week we took an important step forward: we took delivery of 3 new Diamond DA62 MPP aircraft, the first privately owned aircraft in the history of the Fire Department. These are assets with outstanding operational capabilities that raise the bar in quality, while also reducing the cost of flying compared to existing assets. It is another step in the upgrade of firefighting assets, implemented with resources from the Recovery Fund and through the Ministry of Civil Protection’s AIGIS program, the largest investment in our country’s resilience against climate change. This will be followed by modern privately owned firefighting helicopters (the first two will be delivered in the summer of 2026) and the drastic renewal of the firefighting aircraft fleet, not only by upgrading the old Canadair, but mainly by acquiring 7 new Canadair 515s. The first of these – with the code Greece 1- will be delivered in 2028 and will be able to operate at night, so that we can put out fires throughout the 24-hour period.

Change of paragraph, change of subject and I come to public health and one of the most important services in the NHS, the Mobile Health Teams. A team of doctors and nurses who go to the citizen themselves, free of charge, whether they have insurance or not. The Mobile Health Teams are now being expanded throughout Greece, with a focus on island, mountain and remote areas, in order to provide primary care and prevention at home to over 500,000 citizens annually. In November alone they will go to 900 areas. Any citizen can call them free of charge via the 1135 line or through their community and request a home visit. The teams – currently about 900 professionals and soon more – carry out home examinations, give instructions and advice via telemedicine, prescribe medicines, give vaccinations and, if necessary, complete the electronic health record. The usefulness of this service can be seen in practice. In their pilot operation in 175 regions of Greece, the CMMs have identified many undiagnosed sufferers with hypertension, high cholesterol and cardiovascular diseases. Together with the “Prevent” programme, these actions are changing for the first time prevention in the health sector in our country.

This week we also made an important support to the agricultural world: we announced a 50% permanent increase in the amount of agricultural oil for which the Special Excise Tax is refunded. It was a request from producers and it was granted, as it was found that 37,000 beneficiaries received less money in November than the refund of the VAT due to the fact that the limit on the maximum quantities eligible for reimbursement was exceeded, based on the mechanical employment indicators. These farmers will receive the extra amount in December. As a reminder, to date, with the first 3 instalments, 56.3 million euros have been paid to some 113,000 farmers who had farm oil purchase transactions and two more payments remain for the 2025 financial year. At the same time, until the end of November, the advance payment of the basic payment and the payment of Measure 23 are proceeding, while by the end of the year we plan to complete the payments of 8 pending programmes, the payment of the basic payment, the compensation of ELGA for frost damage and the advance payment for the restoration of plant capital in Thessaly by “Daniel”. The farming community has a central role in our plan for the development of the country. That is why we are in constant dialogue with producers, we are working on streamlining the payment system and ensuring that it is the real farmers and livestock farmers who receive European funds, without delays and without injustice.

The government is implementing a comprehensive housing strategy that affects all citizens, and of course the members of the Armed Forces, who move around the country every year to serve their country. We have unveiled a new 15-year housing plan for our military, with a goal of adding over 10,000 new homes to the Ministry of National Defence’s housing stock by 2040 to meet the needs of all personnel. By early 2027 over 1,000 new homes will have been delivered, while a major programme of maintenance of around 7,000 existing older homes is also underway. Our plan also includes new day nurseries, supported living accommodation for older retirees and new student accommodation for students at our military schools. This is a comprehensive grid of upgrading and support for members of the Armed Forces, the first such comprehensive scheme in decades. It starts with the pay scale, continues with training and extends to improving their daily lives. It is the very least we owe them for the mission they perform.

Let me now turn to the 3rd Greece-Cyprus Intergovernmental Summit, which confirmed our strategic cooperation on all critical fronts and our interlocking on all major issues: from health, education, security, to projects that enhance the geopolitical footprint of the two countries. We have thus jointly decided to proceed with the immediate updating of the economic and technical parameters for the electrical interconnection cable, so that it can potentially be strengthened by the entry of new strong investors. In a period of uncertainty, Greece and Cyprus remain pillars of stability in the region. This has been demonstrated by recent agreements with major US companies in our country, which strengthen Europe’s energy security from the Mediterranean to Moldova and Ukraine. At the same time, there is also a strong national bias: following the example of Cyprus, we are opening a new chapter in drilling. After 40 years, and within the next 18 months, the first exploratory drilling rig will start work in the Ionian Sea.

I now turn to a major reform that is changing the daily lives of tens of thousands of public sector workers and making the state as a whole more functional. I am talking about the new “Human Resources Management System”, a reform that the Greek state has been waiting for at least 15 years. What is changing? That at last the digital systems of the State finally start “talking” to each other. No longer will an employee have to fill out the same paperwork over and over again. The data will be declared once and from there onwards all the departments will automatically draw it up. Every civil servant will, for the first time, have their own digital file, showing their entire career path from recruitment to retirement. And for the first time too, the state will be able to do real planning, seeing where staff are missing, what needs there are, what specialities are needed. In simple words: many procedures that until now have been “stuck” in paperwork and double counting, from recruitment and licensing to crises and certificates, will now be done faster and more transparently.

This reform comes at a time when international data also show that Greece is speeding up its digital path. This is shown by a recent OECD report that charts progress overall in Europe in digital transformation and the adoption of artificial intelligence. In many indicators, especially the one measuring the skills of AI in the population, we are now outperforming the European average. At the same time, we are investing in infrastructure that helps digital upgrading: we are supporting with €21 million from the Recovery Fund important research units such as Archimedes at Athena and AI Politeia Lab at Demokritos. The aim: more knowledge, more innovation, more opportunities for young scientists, so that talent stays here.
And since we are in a digital environment, I would like to mention the free Digital Tutoring Center, which has been enhanced with 4 new vocational training courses, with more teaching hours per month and an additional 10 teachers. At the same time, its asynchronous support is enriched with 3 new Special Education courses. This is an initiative that actively supports students and graduates by giving them free and quality support for their preparation, wherever they are. And it is already having an impact: since 22 September, 35,000 users from Greece, Cyprus and abroad have attended the courses.

Since the beginning of the year, 22,000 people from Greece, Greece and Cyprus have already visited the country since the beginning of the year.
On the energy front, one of the most important programmes currently “running” is the “Change Heating System and Water Heater”. More than 100,000 households across the country have joined it, according to the table published by the Ministry of Environment and Energy. Of the new beneficiaries, at least 5,000 are from vulnerable groups, who will receive an increased rate of subsidy. With a total budget of €647 million, the programme helps households to replace old, energy-intensive heating systems with more efficient and cost-effective solutions, reducing energy costs.

Let me also mention the 3 new strategic investments, totalling €205.8 million, approved this week by the relevant Interministerial Committee. Two are in industry and one in tourism. The first is the “Olympus Project” of AGET HERAKLIS-HOLCIM in Milaki, Evia, which introduces in Greece one of the most advanced industrial technologies in the field of construction materials in Europe. This is followed by the new production plant for advanced insulation and resin materials of NEOTEX SA in Magoula, Attica, a Greek company with an export presence in 70 countries and 4 continents. And in tourism, ATOKOS Ltd of the Tsakos Group is proceeding with a new tourist unit in Ithaca, which will be aimed at high-income visitors. The total number of strategic investments – including the above 3 – approved in the last year amounts to 18, totalling €2.7 billion, which is the highest number of strategic investments in recent years. Of these, 9 are in industry, 7 in tourism, and 2 in research, innovation and technology. And all this matters because it brings real movement to the economy: jobs, production, exports, better services.

I continue with two important interventions in the field of culture. I start with the Roman Odeon of Patras which, after three years of restoration work, was handed over to the residents and visitors of the Achaean capital yesterday. The great monument, which has been associated with some of the most important cultural moments of Patras, now offers safety and greater comfort for all citizens to enjoy musical and theatrical performances, as it has been made accessible to people with reduced mobility. Equally impressive is the intervention at the Temple of Aphaia in Aegina, one of the country’s popular landmarks that welcomes 100,000 visitors every year. With funding from the Recovery Fund, the surrounding archaeological site was upgraded, a lift for the disabled was installed and a modern fire extinguishing and fire protection system was installed. The magnificence of the Temple is highlighted by the new lighting by Eleftheria Decaux and her associates. Thus, a cycle of “illuminating” the three temples, Parthenon, Sounion and Aphaia, is closed, restoring their “conversation”, just as in antiquity.

And on top of this thread of culture, comes an important piece of news for the Greek language: the unanimous decision by UNESCO to declare February 9th as World Greek Language Day. A decision of historic importance that recognizes internationally the unique and invaluable contribution of the Greek language to the global cultural heritage of humanity. The process was launched last April, with a proposal from Greece that had the support of 90 member states of the Organization. I will borrow the phrase of our national poet, Dionysios Solomos: “I have nothing else in mind but freedom and language”. It is, and I close with this, a decision that shows that what we are building today is based on a rich and living tradition. It is with this thought that we move forward into next week. Have fun, whatever you do!