Recommendations for the fiscal situation of Greece from the head of ESM Klaus Regling, who stressed that the country must return to primary surpluses, as before the pandemic.
Greece, although it recorded a high growth rate in 2021 (in the first places within the Eurozone), continues to have inconspicuous debt (over 200% of GDP), while the deficit amounted to 10.2 billion euros.
In the announcement of the ESM, which validates the 12th post-memorandum evaluation and the decisions for the installments that will be granted in Greece, Mr. Regling points out:
“Greece has continued its progress by implementing reforms in the difficult conditions of the Covid-19 pandemic. The government has made reforms in the area of ​​public finance management, adopted remedial measures against energy monopolies, and simplified investment licensing. In addition, it has made good progress in the privatization and governance of state-owned enterprises, social welfare and public administration. “The European institutions considered that Greece had made sufficient progress towards the reform commitments in the first half of 2021. This paved the way for the next installment of the debt relief measures associated with these commitments.”
He added: “Public debt remains very high, stressing the importance of returning to a strong fiscal position, as in the pre-pandemic period.”
Klaus Regling’s recommendations show the concern and concern based in Brussels about the fiscal situation in Greece, despite the fact that it showed a significant recovery last year.
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