“The privatizations are beneficial not only for the revenue that the State collects from them but mainly because they send a message that Greece is changing. It no longer has the statist model but a market economy, which is a prerequisite for development and social policy. It is not only a method of debt reduction but also a driver of growth. Because with privatizations, instead of problematic situations that end up falling on the heads of citizens and taxpayers, investors come who better operate the organizations and businesses that are privatized.”

This was pointed out today by the Minister of National Economy and Finance Kostis Hatzidakis during his speech in the Plenary Session of the Parliament on the bill by which the concession contract is sanctioned of Attica Street. And he referred to specific examples of privatizations which are:

-Olympic: “Taxpayers paid 350 million a year, 1 million a day, to maintain Olympiaki. This is roughly how much the State collects now from the two companies operating in the area, from taxes and insurance contributions. This is the success of privatizations”the minister emphasized.

-The regional airports: “Do you remember what the airports of Thessaloniki, Mykonos, Corfu, Santorini, Rhodes were like and how they are today? It is not only that the State stopped paying for the maintenance of the airports, but we also have a more modern image of the tourist product”he noted.

-The ports: “How were the ports of Piraeus and Thessaloniki? Was it what the country deserved and what the commercial and shipping world wanted? The port of Piraeus has today reached the fourth place in Europe in some activities. And in Thessaloniki there is a big difference in turnover and jobs”.

Mr. Hatzidakis reiterated that after the elections, 11 privatizations were completed, a record number, with the latest privatization of 10% of National Bank’s shares with a 12-fold overrun. “This means that Greece is on the investment map, that there are opportunities for growth, new and better jobs and prospects for the Greek citizen”he emphasized.

Referring in particular to Attiki Street, the Minister of National Economy underlined the basic elements of the contract, noting the following:

For the financial consideration: “The 3.27 billion euros it is the largest ever collected by the Stateand certainly TAIPED since it was established. Some have questioned why the price isn’t even higher. There was a tender, the highest bidder gave 3.27 billion and the others 2-2.4 billion. If there were such big profits, why didn’t so many Greek and international houses give something more? These theories are very far from reality”emphasized Mr. Hatzidakis. He also reminded that in addition to the one-time consideration, the concessionaire will also pay 7.5% of the revenue annually to the State.

For the disposal of the financial consideration: “The proceeds will help to further reduce the debt by almost 1.5 points of GDP already this year. The debt had exceeded 200% of GDP in 2021 due to the costs to deal with the consequences of the pandemic. This year it will be 153% and in 2028 it will be 133%. They are not only our estimates but also those of the EU and the rating agencies. Debt reduction is not only an accounting issue but it is a message of credibility and a passport to make investments, to open new and better jobs. It directly affects our daily life”noted the minister.

For the wider meaning of the convention: “It is a very large-scale investment that sends a message of confidence in the economy, which reaches markets and investors internationally. It’s a positive message for Greece.”

For the reduction of tolls, from 2.8 to 2.5 euros: “Do those protesting want not to be reduced?” If you are upset for some reason by the reduction, tell them to increase to 2.8 euros”he emphasized.

For the obligations of the concessionaire: The contract provides for investments of 380 million euros for the modernization of the Attica road, taking measures to deal with extraordinary incidents, control by the State to achieve performance indicators and severe penalties if the concessionaire does not fulfill these obligations . “Think if there was no continuation of the contract or if we were to return to the “holy” as some believe Dimiosio. And the State needed to manage this project, with the enormous success it has managed other projects with all governments.”

“I believe in privatizations, concluded Mr. Hatzidakis, not just ideologically but because I see that they have a positive effect on the economy. We have learned from our mistakes and from the country’s mistakes. And we move forward with a European, modern and common sense spirit”.