Kyriakos Mitsotakis speaks at the event “Greek Economy: Resilience – Progress – Perspective” organized by the Ministry of Finance in the presence of the president of Eurogroup.
His main points:
– Growth should expand public wealth overall and the dividend should translate into better pay and protection for the vulnerable.
– The government kept production and consumption up during the crises. Workers remember that it was the state that protected jobs and covered the cost of their payroll. Citizens see surplus wealth returned to their income.
– The indicators we talked about concern those who know how to translate numbers and the big picture of the economy. What is important is for the citizen to understand that his own position is also improving. Despite the mistakes, Greek men and women in good faith recognize it.
– All these are indications that the country is not a problem but part of the solution of European development and it is no coincidence that Greece today attracts investments from all over the world and from giant companies such as Microsoft, Amazon, Google.
– The primary deficit in 2022 will be much lower than expected and the commitment is in place that in 2023 Greece will produce a primary surplus.
– Inflation is squeezing incomes but is noticeably lower than in the Eurozone. Consider the fact that Greece successfully issued a 5-year bond a day after the election was announced as proof that the international community trusts the country’s present and future.
– The national economy in 4 years was upgraded 12 times and is one step before the investment level. I share the optimism of the Eurogroup president. As long as a strong and stable government emerges from the elections, it will regain investment grade in 2023.
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The President of the Eurogroup
– I would like to admit that Christos Staikouras is respected in the Eurogroup, the president of the Eurogroup, Pascal Donohoe, began his speech, characterizing the exit of Greece from enhanced supervision as a historic moment.
“I heard from the prime minister about the performance and progress of the Greek economy and I am convinced that it will soon obtain the investment grade and I believe this because a great effort and progress has been made in Greece”, added Mr. Donohoe.
Referring to the changes in the financial system, he said that Greece’s economy can withstand shocks such as the pandemic or the war in Ukraine.
“In August, Greece came out of the framework of enhanced supervision and had the first report after that which was positive and that is why the Eurogroup decided on further measures to support the economy. Greece is now a completely normal member of the Eurozone. So I as the Minister of Finance in a country like Ireland understand how great this achievement is. I understand the sacrifices that have been made to get to this point but I can assure you that they have paid off and have strengthened Greece’s resilience. Despite the volatile environment, you achieved growth of 5.9% in 2022 and a forecast of 2.3% for this year, performances higher than those of the Eurozone”, added the president of the Eurogroup.
