Energy Minister Stathakis: Greek government is determined to continue reforms

A recovery trend of the economy is expected to be supported and enhanced through the inflow of investment funds and the Public Investment Program, improving liquidity conditions in the banking system and further restoring a climate of confidence, Environment and Energy Minister George Stathakis said.

Addressing the first day of a two-day forum on energy, environment, entrepreneurship and innovation, organized by the Greek-French chamber of commerce and industry.

Stathakis said a smooth completion of a second review of the Greek program and implemeting agreed measures on debt relief were also significant and noted that the Greek side was determined to continue implementing a framework agreement and to promote the interventions and reforms needed by the economy.

“A Eurogroup meeting in December 5 is expected to discuss the immediate implementation of short-term measures on debt relief and to begin discussions on short-term interventions on Greek debt, thus paving the way for ECB to include Greek bonds in its QE program,” the Greek minister said.

Stathakis said GDP data justified the most optimistic forecasts over the course of the Greek economy and noted that “GDP grew at the most significant rate recorded after the 2008 crisis on an annual basis”. He stressed that behind a positive trend in the third quarter was a recovery in domestic demand, investments (up 7.0 pct) and exports which grew 16.6 pct in September. He added that applications in the framework of a new development law were expected to reach 1,000 by Christmas.