Rationalization in the policy of allowancesin collaboration with the Ministry of Social Cohesion and Family, without reducing the overall budget, with the aim of directing the benefits to those who really need them and to deal with abuse phenomena, the Minister of National Economy and Finance Kostis Hatzidakis announced today, speaking at the Economist conference. Mr. Hatzidakis also noted that the government is also preparing an intervention for the country’s demographic problem.

Speaking at the panel on “The Greek economy: picking up speed” in which the president of the Eurogroup Paschal Donohoe and the managing director of the National Bank Pavlos Mylonas participated, the minister emphasized that the pillars of the national effort are the prudent fiscal policy, the continuation of the pro-development reforms and the exercise of an effective and fair social policy, which includes the rationalization of the benefits policy.

Mr. Hatzidakis pointed to the progress in the development of the economy, the increase in investments and exports, as well as the very significant increase in jobs by at least 400,000 in the last five years. All this, he noted, has been recognized by the Economist itself by giving the prize of the year in 2023 to Greece.

The minister presented the priorities of the Ministry of National Economy and Finance for the next twelve months, highlighting three points:

  • First, the implementation of the tax reform and the 11 different actions to combat tax evasion which are estimated to bring in additional revenues of €2.5 billion per year by 2027 and create fiscal space to reduce taxes.
  • Second, the completion of the disinvestment of the HFSF from the banks and the creation of the fifth banking pillar. “We are now working on the restructuring of Attica Bank. At the same time, we will proceed in 2024 to settle the pending matter in relation to the National Bank and the share of the Greek State in it”, he said.
  • Thirdly, the implementation of the legislative interventions that have been announced and include:

The upgrade of the Greek capital market by improving supervision and with initiatives that will make the Stock Exchange more attractive.

The simplification of the framework and providing incentives for mergers and innovation.

The reform of the legislation on public investments, so that the framework becomes more modern, as well as the transformation of the Superfund and its subsidiaries. “Today many consider the Superfund as a lenders’ fund. It will become a fund that will contribute to development, with the establishment of the new National Development Fund following the model of other European countries”, said Mr. Hatzidakis. He also noted the reform that will be promoted along the lines of PPC so that the Superfund’s subsidiaries become more modern and more citizen-friendly. The relevant legislation will be passed in July.

“Europe, he added, in the turbulent times we live in, must see how to strengthen its strategic autonomy and competitiveness. And regardless of what Europe will do, Greece must increase its resilience in the face of challenges and uncertainties by moving forward with the government’s reform plan.”

Finally, the minister pointed out the need to immediately promote the Union of capital markets, so that the funds that are available in the EU and currently benefit third countries, support the European economy.