Georgiadis at TEF: I would not be surprised by growth of up to 6.1% in 2022

“The Greek economy enters prepared for the “storm” of recession, which is expected to hit the European economy. Our debt is regulated, our economy produces surpluses, so Greece at this critical juncture will manage to pass” emphasized the Minister of Development and Investments Adonis Georgiadis, who was the keynote speaker at an event organized by the Chamber of Commerce and Industry of Thessaloniki (EBETH) in the context of the General Assembly of the Central Union of Chambers of Greece (KEEE).

“The international economy is entering a spiral of recession and it is impossible that the recession will not affect Greece in the long term,” said Mr. Georgiadis, noting that “our “customers” are the Europeans, they are the countries to which we export, the countries from which we receive tourists, entering the worst winter and a great recession, but we are well prepared”.

The change in the energy market due to the very high prices of natural gas objectively creates very big opportunities for the country in the field of Renewable Energy Sources, he said and advised not to panic and fear, as the government is completely in control of the situation, he has a plan and a schedule.

“I don’t like to see things worse or better. I like to see things exactly as they are,” said Mr. Georgiadis, pointing out that the Greek economy is growing far above the forecasts set by both the budget and the Commission. “The Commission, in its revised forecast, predicted for 2022 growth of 4.1% for Greece. Today we can say with relative certainty that it will be much higher than 4.1%. If you consider that the first half we have closed with 7.8% and the third quarter, which is basically the tourism quarter, which did very well, it will only be the fourth quarter of the year to determine the final annual average. No matter how bad the fourth quarter goes, the final result cannot be far from 7.8%”, estimated the Minister of Development and Investments. “It wouldn’t surprise me personally if the annual average is at 6% – 6.1% is Morgan Stanley’s forecast for the Greek economyhe added.

The Minister of Development and Investments underlined that for the first time and for the fifth consecutive quarter there is a balance that gives optimism for the future: the economy is based on 1/3 on consumption, 1/3 on tourism and 1/3 on investments and exports. “So there is an important change in the production model of the country”, he said and emphasized that there is also a very large increase in exports.

“Exports in 2010 when we entered into the memorandum corresponded to 20% of the then GDP, in 2021 they reached 40% and in 2022 we are going for a much bigger record, it seems, according to ELSTAT’s forecast that on an annual basis we will exceed 47 billion euros (last year they amounted to 40 billion euros)” he said.

Regarding industrial production, Mr. Georgiadis underlined that in the month of July there was also a 7% increase in volumes, not in values, while regarding investments, he said that an all-time record is expected. “We have exceeded the record of 2021 in the first half of 2022 by 11%, so if we continue at this rate we will have an all-time record” he underlined and called on the representatives of the agencies to abandon “the old-style whining».

Mr. Georgiadis asked the businesses to take advantage of the 700 million euro program that will be announced, through NSRF, next week, which will subsidize the installation of solar panels for self-consumption.

He also announced that he has decided to accept the request to lift the two-term limit for the Presidents of the Chambers and that a related amendment will be included in the Business Parks bill that will be tabled next week.

Ioannis Masoutis: The main problem is the energy crisis

The business world and especially small and medium enterprises are facing perfect storm conditions in the global economy. The energy crisis is emerging as a major problem for all of Europe, underlined the president of EBET and the Central Union of Chambers of Greece, Ioannis Masoutis.

Referring to Thessaloniki, Mr. Masoutis emphasized that the city has been in need of specific infrastructure and interventions for years, in order to release its great development potential.

“Already some important projects, such as the airport and the METRO, have progressed. However, there are also a number of others that need to be accelerated, such as: the road and rail connection of the 6th pier of the Port, in order to increase the possibilities of combined transport, the establishment of a logistics center in the former Gonou camp, the renovation of the Exhibition and Conference Center Thessaloniki. An equally necessary intervention is the transformation of the informal industrial concentrations of Central Macedonia into organized business receptors.

By making use of the available European resources, initiatives and investments should be supported to take advantage of the comparative advantages of Thessaloniki, in the field of research and technology, such as the Thess INTEC Technological Park, etc.

The president of EBET noted that “the businesses that kept the Greek economy afloat in previous years are now themselves ready to play a leading role in the recovery and development of the next decade”.

The Central Union of Chambers awarded the Minister of Development and Investments, Adonis Georgiadis, for his contribution to the Chamber institution and the support of the business community.

RES-EMP

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