“Those who voted for us in the parliamentary elections of 2023 and did not vote for us in the European elections, demand from us a serious and effective policy. They don’t want us to go back to recipes of fiscal populism. The demagogic and populist recipes were tried and failed in our country”.

This was pointed out by the Minister of National Economy and Finance Kostis Hatzidakisduring his speech tonight at the 5th international conference of the Hellenic Chamber of Commerce, on the theme “The world in transition”.

“We are listening,” he added, “to the messages. But we move forward with a sense of national responsibility. We have no right to waste the progress of recent years. We must move forward with seriousness and credibility in an effort that takes on added importance in an environment full of uncertainties.”

Addressing, as he noted, economists, he posed the questions:

-Is there anyone who believes that the country is constantly spending more than it receives?

-Is there anyone who believes we should increase borrowing again to service an ever-increasing public debt?

-Is there anyone who believes that we can achieve high and sustainable growth rates without increasing our productivity?

-Is there anyone who believes that this can be achieved without productive investments?

“I believe,” he noted, “that you don’t believe that either, and neither do the citizens.”

Mr. Hatzidakis stated that the Greek economy, in an unstable and uncertain international environment, is on the rise, highlighting the quick recovery from the pandemic, the increase in investments by 40% compared to 2019, the increase in exports which marked the highest percentage growth in the EU, the reduction of public debt which is the fastest at EU level since 2020 to date and the fall of unemployment by 8 points. With the culmination, as he said, of the recovery of the investment grade

He presented the initiatives taken by the government after the elections, with the law, among others, to limit tax evasion, the regulations to strengthen competition in the banking system, the servicers and the extrajudicial mechanism, the 10 privatizations and concessions made to last 11 months and brought 7.1 billion euros to the public coffers. Also, the measures to increase the income of citizens, such as the increase in the salaries of civil servants after 14 years, the new increase in pensions, the increase in the tax-free allowance for families with children, the increase in the birth allowance, the new increase in the minimum salary.

He also reiterated that the key priorities of our economic policy over the next 12 months include:

1. Continuation of the serious and responsible fiscal policy, which is the foundation for the general effort in the economy. “Under the new rules”, he noted, “the surpluses that may arise will not automatically go to benefits, but we will keep them for the difficult years and the further reduction of the public debt. This is what every prudent householder does. This is what a prudent government should do, especially in an international environment characterized by instability and uncertainty.”

2. Formation of a stable, fair and pro-business tax framework. “We estimate that the full implementation of the 11 measures to limit tax evasion that we voted for last December will generate additional revenues of 2.5 billion euros annually by 2027. The ultimate goal is to create the required fiscal space for further tax relief for those who now bear a disproportionate burden,” he said.

3. Strengthening and improving the operation of the financial system, with the creation of the so-called 5th banking pillar, settlement of all outstanding issues in relation to the “Hercules” program, further strengthening of transparency and fairness in procurement, expansion of the direct payments system IRIS, facilitating access to bank loans for SMEs.

4. Providing incentives for the diversification and modernization of the production model. By simplifying the fragmented and fragmented legislative framework for mergers and establishing tax and financial incentives for mergers.

5. Optimum utilization of the funds of the Recovery Fund and the NSRF. “We are in the 3rd position in terms of the absorption of the NSRF 2021-2027 and in the 6th position in terms of the absorption of the TAA – well above the European averages. But we must move with even greater speed and efficiency”, he stressed.

6. Implementation of an integrated plan for the utilization of public property, with the new institutional framework for the modernization of the operation of the Superfund and its subsidiaries, the establishment of a National Investment Fund and implementation of the plan for the utilization of ETAD properties.

“With all the mistakes, with all the delays, in our country in the last five years we are experiencing a revolution of common sense”, he concluded. Adding that “in my view, the recent result of the European elections does not change that. It is not a call to change direction or put our foot on the brake. On the contrary, it is a message that we must try even harder, go even faster, more efficiently. With the aim of turning Greece into a modern European country”.