Greek FinMin optimistic over economic developments in the country

Greek Finance Minister Christos Staikouras on Thursday reaffirmed his optimism over economic developments in the country.

Speaking in Parliament during a debate on the country’s Medium-term Framework of Fiscal Strategy 2022-2025, Staikouras reiterated that achieving a 3.6% economic growth rate this year is fully feasible and realistic.

“Developments inspire a realistic optimism that we can make it. We know where we are, we know were we want to go. We are working hard for this, with our sight focused on the future. We have a vision, a strategic plan and above all faith in history, our capabilities and the prospects of the homeland and its citizens. It is our obligation before the country’s history and the new generations to have an internationally respectable and continuously bolstered homeland,” Staikouras said.

The FinMin said the minsitry did not revised its forecasts for 2021, despite positive signs, until a clearer picture was available for the first half of the year, taking in view the uncertainty on the health front and the high volatility in external macroeconomic developments.

Staikouras said the government has set ambitious but realistic goals for the coming years, based on improving the quantity of wealth through high and sustainable economic growth rates in the medium term: Improving the quality of wealth through a significant increase in investments and exports; exiting the enhanced supervision status in 2022; bringing non-performing loans down to one-digit levels in banks’ portfolios by 2022; achieving a fiscal improvement in 2022, and realistic primary surpluses from 2023. He also said he expected Greece to obtain an investment-grade rating by the first half of 2023.