Liquidity ‘bomb’ arriving in Greek economy, Dep. Digital Policy Min says

A new liquidity “bomb” of eight billion euros will be injected into the Greek economy with the prospect of changing the climate in the market, Deputy Minister of Digital Policy and Media Lefteris Kretsos said to Athens-Macedonian News Agency radio “Praktoreio 104.9FM” on Monday.

According to Kretsos, Greece future is looking brighter than in previous years and “2019 will be a crucial year because many projects are maturing and many major projects will be launched. He also noted that all macroeconomic indicators and the climate are improved in comparison with previous years.

Kretsos clarified that 4.8 of the 8.0 billion euros will come from Economy and Development Ministry financing instruments that, with the appropriate handling, can be leveraged to reach the final amount. This will change the climate in the market and greatly boost liquidity, which is not at a very good level after eight years of recession.

He also emphasised the role of Greece’s dynamic startup community, saying that among the issues dominating the US-Greece Strategic Dialogue talks in Washington, and one which sent a positive signal about the country, was the presence of dozens of innovation and startup companies at the 83rd Thessaloniki International Fair (TIF) in September. “Unfortunately this world is very often invisible to the media with the exception of that period during the TIF,” he added.

Referring to the course of digital reform in Greece, Kretsos underlined that the country is making very important progress in this area but unfortunately started from a very low position, as there were long-standing delays in the sector of e-governance and development of new technologies. “We have now built up a very good momentum, very important initiatives are progressing at all levels, including that of infrastructure with ultra super fast broadband,” Kretsos said.