The government’s policy for kick-starting the Greek economy has already brought results which are internationally recognised, only 130 days after taking office, Finance Minister Christos Staikouras said on Tuesday.
Addressing the 30th Greek Economic Summit organised by the American-Hellenic Chamber of Commerce, Staikouras said the Greek economy will grow by 2.0 pct this year and by 2.8 pct in 2020. He presented the five main goals of economic policy and emphasised the main achievements of the first 130 days of the government, saying this proved that the government was implementing policies for all citizens, focusing more on the lower and middle classes. The Greek finance minister stressed that the government is exploiting the fiscal space available for the benefit of Greek society.
The five main goals of economic policy are:
- Expanding the productive base of the economy, raising the quantity and quality of products, promoting extroversion. The Greek economy will have grown faster in the second half of 2019 compared with the first half, Staikouras said, adding that a medium-term goal was to increase investments to their pre-crisis levels as soon as possible.
- Implementing agreed fiscal goals. Staikouras said that full fiscal discipline in the spending leg will be continued and noted that broadening the tax base was an essential condition for further lowering the tax burden on the citizens.
- Strengthening the stability of the credit system. The government plans to reduce existing non-performing loans by up to 40 pct via the “Hercules” plan and introduce a modern single framework for solvency, both for enterprises and households.
- Boosting the capital market with new legislation aimed at improving corporate governance.
- Strengthening liquidity in the economy by paying state arrears to the private sector and boosting a Public Investments Programme.