Meeting under the prime minister on energy with the crisis management committee

A meeting on energy issues will take place in the afternoon at Megaros Maximos, as announced by the government representative Yiannis Oikonomou. The meeting led by the Prime Minister and the crisis management team at the Ministry of Energy, as Mr. Economou said, will focus on the developments for the operation of the energy supply chain and the update of the initiatives in view of the winter, as well as the presence of the Prime Minister at the TIF.

The “Mitsotakis package” is being feverishly prepared – The parameters that will “lock” the announcements at the TIF

It is noted that the meetings at the Maximos Palace on the package of measures and reliefs that will be announced by the Prime Minister, Kyriakos Mitsotakis, from the TIF podium, on Saturday night are feverish.

At the moment, as confirmed by close associates of the prime minister, the measures have not yet been locked in, which is expected to happen towards the end of the week, when data on the course of the economy will be known, which will also determine the fiscal margins.

Also, an important role in the announcements will be played by the decisions that will be taken at the European level on energy prices.

According to government sources, Kyriakos Mitsotakis wants to have the best possible impression of the big picture and that is why the “TIF package” can be finalized even a few hours before the speech.

As Finance Minister Christos Staikouras has stated repeatedly, there are a series of proposals on the table, fully costed, from which the Prime Minister will make the choices based on the priorities he sets, as well as the potential of the Greek economy.

Let’s see in detail the six nodal points which will determine the “TIF package”.

1. The next one Wednesday September 7, there will be announcements from ELSTAT for the height of the development in the 2nd quarter of 2022. All estimates agree that this will be particularly high, proportionally, and thus maintain the forecast that GDP growth in Greece in 2022 will be one of the highest in the Eurozone, based mainly on tourism.

2. Two days later, on Friday September 9, there will be announcements, also from ELSTAT, on the level of inflation, which, barring a shocking prospect, will decelerate for the second consecutive month. Eurostat has already prepared us for this, which announced for August inflation lower than in July. It should be noted that Greece is one of the few countries in the Eurozone that seem to be putting the brakes on the “monster” of inflation.

3. To the Ministry of Finance in the week they will have a clear picture of their progress of public revenue in the month of August. The first information suggests that the tendency to exceed the target has been maintained in the month in question, expanding the fiscal space that has already been created.

4. A key element for decision-making is the performance in tourism. Everything shows that the 2019 record with revenues of 18.2 billion can be broken and the bar can be set higher. In the government staff there will be a better picture within the coming week with the integration of the August data which is undoubtedly very positive, at least according to the existing estimates.

5. The next one Thursday, September 8 will convene the Governing Council of the ECBin order to make decisive decisions on how to tame it inflation. All indications are converging on a rate hike of 0.50-0.75%, depending on how loud the message the Central Bank wants to send.

6. Finally, within the week it is expected that the road map of the interventions against the energy precisionwith the Commission to appear more determined than ever to put a stop to this insanity of uncontrollable prices.

All of the above will form an environment in which the prime minister will move, always as he has stated, based on the admission that “resources are not inexhaustible.”

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