Package of initiatives for the transition to an economy based on quantitative and qualitative growth of investments but also for the further upgrading of its credit rating was presented by the Minister of National Economy and Finance Kostis Hatzidakis speaking today at the 6th Athens Investment Forum.

Based on the starting point, as he pointed out, the political stability achieved in the elections, the government’s planning includes:

1.Strict adherence to fiscal targets. “We learned this for good in the crisis: nobody will invest in a country whose public finances are faltering”, said Mr. Hatzidakis. “In this context, receiving the investment grade from Standard & Poors two weeks ago was a very important event. It was preceded by DBRS, the Japanese company R&I, the German Scope and, just yesterday, the two Chinese companies. All this constitutes a seal of credibility for the prospects of the Greek economy. Is it enough for us? Obviously not! We want to get the investment grade from the other big houses as well. But let’s continue to climb steps in it!”

2.Improving the business environment by speeding up the delivery of justice, further digitization, strengthening the Banking System among others with the initiatives on bad loans and to strengthen competition in the banking system. “The divestment with the sale of the shares of the HFSF certainly has an important development content. Unicredit’s recent decision to invest in Alpha Bank proves that there is confidence in the prospects of the Greek banking sector. And I believe that everyone will see this when the disinvestment of National and Piraeus will proceed later,” noted the minister.

3. Utilization of the largest “package” of public resources in history due to both the Recovery Fund and the new NSRF.

4.Utilization of public property with priorities the remaining regional airports, the completion of the Egnatia Road concession and the entry of Eleftherios Venizelos to the Stock Exchange.

5.Emphasis on areas where we are proven to be most competitive (pharmaceutical industry, the agri-food sector, Renewable Energy Sources) but also an invitation to Greek shipowners to invest on land as well.

6.Support for innovation and knowledge-intensive activities with high added value, such as IT services.

7.Incentives for business growth.

8.Incentives for the digital and green transition of businesses

9.More and better jobs with the further reduction of non-salary costsproviding incentives and removing barriers to youth and women’s labor market participation and further upgrading training and skills certification.
“Our goal, concluded Mr. Hatzidakis, is to achieve a paradigm shift. To complete the transition from an economy that was in a deep crisis for a whole decade, to an economy that pleasantly surprises all of Europe and the whole world and is growing rapidly and dynamically.”