Mitsotakis says GDP data show real economy is in tragic state and vows to reduce taxes

The real economy is in a tragic state and this was confirmed by the revised data on Greek GDP for the fourth quarter of 2016, which showed that the economy shrank more than expected, the leader of New Democracy (ND) Kyriakos Mitsotakis said on Monday, addressing an event of the Association of Manufacturers & Importers of Electrical Appliances (SVEIS).

“While the prime minister was proclaiming the economy’s alleged return to positive growth rates the data disproved him, proving New Democracy’s statements are not scaremongering. It is an accurate reflection of the market,” he said.

“The economy returned to recession in 2015 and unfortunately remained in recession in 2016. The tragic state of the real economy, which is experienced by all Greeks for quite a while, is reflected in the official data. And while the uncertainty remains, the economy will be destabilized further,” he added.

Mitsotakis then turned to the party’s proposals saying the country needs fewer taxes, a stable tax system and a smaller and more efficient state. He also mentioned the need to consolidate the banking system and provide access to real liquidity, as well as a sense of security for all.

“The reduction of taxes is a central political choice to allow businesses and households to breathe,” he said, adding his party pledged to reduce the ENFIA tax 30 percent over two years, the corporate tax to 20 percent from 29 percent and the taxation on dividends to 5 percent from 15 percent.

Mitsotakis also vowed to revisit social security contributions to give incentives to companies to hire people and noted the need to deal with non-performing loans.

“We are a country which, under conditions, could thrive,” he said.