EuroWorking Group: Chouliarakis presents Greece’s draft growth strategy

The eurozone economic staff that met in the framework of the EuroWorking Group in Brussels on Thursday examined all the parameters for Greece’s successful exit from the memorandum.

The aim of the discussions is to have reached a preliminary agreement at the Eurogroup, on April 27, in Sofia.

Alternate Finance Minister Giorgos Chouliarakis presented a draft growth strategy that Greece will follow after the end of the programme.

Finance Minister Euclid Tsakalotos will present the final draft on April 27, in Sofia, setting the targets for attracting investment, reducing taxes, reducing “bad” loans and modernising public administration, as well as targets for reducing unemployment and boosting productivity and exports.

The “comprehensive development plan” that the Greek government will present in Sofia is important, not only because it will be taken into account in the analysis of the sustainability of the Greek debt, but also because, as EU Commissioner Pierre Moscovici has said, it will be an important test for the country’s credibility in the debate on the post-memorandum era.

More specifically, the EWG examined the course of the fourth and final review of the Greek programme, the post-memorandum development strategy, the mechanism linking debt repayment with growth and post-memorandum surveillance.

Regarding the fourth programme review, the EWG highlighted the need to have it completed by June at the latest. The fourth programme review is linked to an important loan tranche of 11.7 billion euros which has to be disbursed before the end of the programme on August 20, 2018. According to the Athens-Macedonian News Agency’s sources, the officials also stressed the need to speed up the implementation of some of the 88 prior actions related to the energy market, gas privatisation and motorway concessions.

The heads of the institutions are expected to return to Athens on May 15.