As Mr Staikouras told the Vice-President of the Commission, no European Member State can deal effectively with this new crisis on its own, and that requires European, drastic and decisive political solutions.
The Minister of Finance, Christos Staikouras, spoke about “great, complex and supranational challenges that lie ahead of us”, in his statements after the meeting at the Ministry of Finance, with the Executive Vice President of the European Commission, Margrethe Vestager. According to the minister, the cost of energy has skyrocketed and inflation in Europe has exceeded all expectations, now “leaning” all citizens in every corner, and inevitably any achievements are overshadowed and the positive outlook is undermined.
According to Mr. Staikouras, no European member state can deal with this new crisis effectively on its own, and that requires European, drastic and decisive political solutions. These solutions will be for the present and the future of Europe, they will incorporate the lessons of old and new experiences and they will prove that Europe recognizes and responds to the needs of the times, guided by the common goal of democracy, development, social cohesion and prosperity.
The Minister also said that the contribution of the Vice President of the Commission in the effective support of the Greek economy during the outbreak of the pandemic was essential, as the Provisional Framework of the European Commission for state aid measures, was a valuable tool and guide in our effort. to mitigate its economic impact. Under this, he added, the Greek authorities have already introduced about 70 meters of state aid, with a total budget of over 22 billion euros. “Measures implemented successfully have kept society and the economy afloat, and laid the groundwork for a dynamic restart. “Which happened!”, He pointed out.
He stated, at the same time, that “from our side we look forward and work for the continuation of this close and constructive cooperation at European level, for a common and drastic response to the new threats that stand before us. “Threats arising from geopolitical tensions, from the need for a green transition, from the need to control technology.”
Mr Staikouras said Europe was “facing the consequences of a war following Russia’s absolutely condemned invasion of Ukraine”. Consequences in the field of economy are mainly reflected in the acute energy crisis and the spike in inflation, which severely affects national and family budgets. It triggers strong upheavals, raises new uncertainties and halts the growth dynamics of our economies. We are therefore going through a prolonged period of external crises from 2020 “.
As the minister said, “the Greek economy has shown remarkable resilience and strong dynamics, confirming the European Commission’s estimates that classify it, in the short and medium term, as the fastest growing economies in the eurozone. With intensive and methodical work we achieved almost all the important goals we had set at the front of the economy, closing painful chapters of the past and opening a new, more promising page in the future. As reflected in the historic decision of the Eurogroup in Luxembourg for the exit of Greece from the Enhanced Supervision regime and its return after 12 years to European normalcy. Greece is no longer an exception in the eurozone. As reflected in the 12 upgrades of the creditworthiness of the Greek economy in the last 3 years, which bring it just a “step” before the investment grade. That is, before the conquest, that is, of the last great goal of this four-year period, which has been set for 2023 and is expected to be achieved “.
He made an extensive report on the course of the economy to date and the next steps, noting that:
– GDP continues to grow at high rates, amounting to 7% on an annual basis in the first quarter of 2022, significantly higher than the European average, climbing to a decade high, in terms of volume. At the same time, the composition of GDP is improving, as much of this growth is based on significant boosting investment and exports. In the same direction, the European Commission predicts that the Greek economy will grow strongly and sustainably in both 2022 and 2023, with Greece “champion” in Europe for the next two years in investment and exports.
In addition, the significant decline in unemployment continues, especially among young people and women, public debt is declining significantly and the fiscal balance is gradually being restored.
-The above are the fruit and at the same time the culmination of the responsible, reformist and dynamic economic policy implemented by the government, with the main pillars being fiscal responsibility, reformist consistency and development orientation. In this context, we continue in the current -very difficult- situation, to support, with realism, households and businesses, while ensuring the stability of public finances.
-We also continue, at an intensive pace, the implementation of structural changes and reforms, including the treatment, in the best possible way, of chronic problems of public companies, such as LARCO, Skaramaga and Elefsina Shipyards, ELVO. While we also place special emphasis on the areas of green and digital transition.
Of particular importance in this direction is the rapid and efficient utilization of the resources of the Recovery and Resilience Fund. Greece is already recording significant steps in this field, as 230 projects, with a total budget of 10.2 billion euros, have been included and will be implemented under “Greece 2.0”.
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