The goal of reducing the public debt requires the combination of fiscal prudence with the implementation of a pro-investment policy, said the Minister of National Economy and Finance Kostis Hatzidakis in an interview with Reuters.

The interview took place in Washington, where Mr. Hatzidakis is in order to participate in the work of the Annual Meeting of the International Monetary Fund and the World Bank.

In the cable of the agency, it is stated that the goal foresees the reduction of the debt from 162% of GDP in 2024 to 149% in 2025 and 133.4% in 2028, a year in which – as noted in the cable – if the downward trend is maintained, the Greek debt will be lower than the Italian one, which in 2027 is predicted to reach 137.5% of GDP from 135.8% this year.

It is also noted the early repayment of loans in the next three years, which will also compress the ratio of debt to GDP.

The agency notes that the government forecasts growth of the Greek economy in 2024 by 2.2% and the IMF by 2.3%, “well above the IMF’s forecast of 0.8% growth in the eurozone which includes industrialized countries such as Germany and Italy”.

He also highlights statements by Mr. Hatzidakis according to which: “We have learned the lessons of the previous decade. Greece was living beyond its means. It is important to maintain primary surpluses and an overall deficit, after servicing the debt, close to zero. We have oversight from markets and investors, we know that fiscal prudence is a prerequisite to convince everyone that we are a credible government and a credible country.”

Besides, in a question about requests for salary increases, Mr. Hatzidakis said: “We always try to satisfy the requests coming from various groups, to the extent that these requests do not endanger the execution of the budget and the goal set for the country and for the Greek economy as a whole”.