By Stelios Kandia – Shipment to Delphi

The Greek economy has taken many steps ahead, but they need to be much more, with new external and internal, such as demographic, challenges to be addressed. This is the general conclusion of the debate between Deputy Minister of National Economy Nikos Papathanassis, CEO of Piraeus Bank Christos Great, BSE President Spyros Theodoropoulou and President of Grant Thornton Tax and Counseling Services, Nikos Karamou.

The “field of opportunity” was presented with the increase in defense spending, with Mr Megalou estimating that he could play a role of new “Development Fund”.

‘We need to broaden the investment base’

Greece is in the first place in Europe’s development. This was not the case, it was the result of hard reform work, Deputy Minister of National Economy Nikos Papathanassis said. Greece is in the first place in the absorption of all European programs. We are 2nd in the absorption of resources of the NSRF, in the first 7 places in the Development Fund, he said, stressing the continued increase in the Public Investment Program, which will exceed 17 billion euros. We need to broaden the investment base, we want more businesses with access to the banking sector, but Mr. Papathanassis observed.

We are open as a country in reforms, other countries are afraid of it, the minister added. We need to run faster in business licensing. We simplify processes, give responsibilities and see a great influx of direct foreign investment, and productive, not only in real estate. Greece is no longer the country with the greatest unemployment. In 2019 we had no shipbuilding industry … Today we entered a new era, Europe wakes up, is talking about a single defensive doctrine and with the escape clause gives us the opportunity to redirect resources. Nikos Papathanassis admitted, however, that “we have a lack of digital works. If we had, the Development Fund would have moved faster. ”

“Our reform work will continue,” Papathanassis pledged.

‘We have to move forward faster’

I believe in the comparative advantages of businesses and management, not countries, the BSE President Spyros Theodoropoulos said. In Greece there is a system of start -ups that is going well enough, it could go better. There are funding issues. There must be cooperation of Greek and foreign businesses in technology by exploiting funds. We also have a defense industry, he stressed, noting the big prospects of the industry for the country and putting Metlen as an example.

In this context, the BSE president requested the reinstatement of the 2011 law that required 30% of domestic added value (PSCs) for each equipment supply of more than 10 million euros.

We move on, but we need to accelerate we do not move as fast as others. But the business world also has responsibilities, Mr. Theodoropoulos said earlier.

‘We got and learned’

Piraeus Bank CEO Christos Megalou stressed that in 2024 the economy recorded 2.3% of GDP growth, a good indication of where we are as a country. We had a clear increase in privacy in the private economy of 12%, one of the highest rates in the European banking system was said by Mr Megalou. Much of it addressed the media, and a capable place in large businesses explained.

As he said, the Piraeus Bank and the banking system more broadly have capital and liquidity and willingness to finance any funding project. Large companies are borrowed at much lower prices than in Europe because of competition. Very small businesses, however, have a bigger borrowing problem. “During the crisis we have learned and learned, and we do not want to go back, even though banks did not cause the crisis in Greece,” Piraeus CEO said. Greece was an example of absorption of the recovery fund, with the contribution of banks. Mr Great said that the defense could finance us in the next 10 years, could be the new Development Fund.

‘To destroy in demographic’

In turn, Grant Thornton President Nikos Karamouzis, Nikos Karamouzis, noted that serious investment efforts have been made, but the memorandums did not help, they went back.

We have, said Mr Karamouzis, a continuous increase in capital liquidity, and there is the possibility of funding programs in collaboration with all stakeholders. But we also have years of investment in Greece.

Among other things, referring to the challenges of the economy, Mr Karamouzis stressed that the current account deficits continue to expand. Also, the country is facing structural issues: strong transport is needed, there is a domestic market shrinkage due to demographic markets, Greek companies are too small to compete with investment is 50% in real estate and 30% in businesses.

Rural production is needed, attracting investment, effective water resources management, demographic treatment of demographics, with estimates for 7.5 million population in 2050 warned.