The Greek economy “has done well and has very positive prospects” in the “challenging” international environment, said the Minister of Finance, Christos Staikouras in a statement after the EcoFin meeting.
“We have recovered strongly, unemployment has decreased, bankruptcies have been avoided, the disposable income of citizens has been strengthened, red loans have been reduced, competitiveness has improved,” said Mr. Staikouras, adding that “Greece also faces challenges. “A prudent fiscal policy, a prudent bond issuing strategy and the continued implementation of structural changes and reforms are needed, so that the country can achieve what appears to be high and sustainable economic growth, create even more new, well-paid jobs and strengthen social cohesion.” More specifically, the Minister of Finance stated:
“During the two-day meetings, the Eurogroup yesterday and Ecofin today recognized the strong recovery and sustainable growth of European economies. This is based on the strong support packages we co-decided at European level as well as on the coordination of fiscal and monetary policy. But there are challenges, challenges that are difficult for European households, challenges arising from the “Omicron” mutation and the health crisis, but also challenges that come from high inflation, inflation that lasts longer than the initial estimates, has stronger characteristics, unfavorable to the family budget and comes from at least 50% of the energy crisis. In the face of these challenges at European level, we continue to support measures for as long as necessary until the crisis and fiscal adjustment are addressed, the necessary fiscal stability we have decided not to work to the detriment of growth. It goes without saying that the emphasis should be on investment, new technologies and innovation. In this international environment full of challenges, the Greek economy has succeeded satisfactorily and has very positive prospects. We have recovered strongly, unemployment has fallen, padlocks have been avoided, citizens’ disposable income has been boosted, red loans have been reduced, competitiveness has improved. And all this is recognized by all partners, by all institutions, by all colleagues. But Greece also faces challenges. “A prudent fiscal policy, a prudent publishing strategy and the continued implementation of structural changes and reforms are needed, so that the country can achieve what appears to be high and sustainable economic growth, create even more new, well-paid jobs and strengthen social cohesion.”