"Reducing tax evasion and securing revenues from those who have not paid so far will allow us to gradually over four years reduce direct taxes. The more success we have on the tax evasion front, the more we will be able to bring down taxes. And this is not just for us, but for every EU Member State.

In light of its submission to the European Commission, the Minister of Economy and Finance, Kostis Hatzidakis, made these comments today at the joint meeting of the House of Representatives Committees on Economic Affairs and European Affairs on the Medium-Term Fiscal-Structural Programme 2025–2028.

Referring to the new fiscal rules applicable across the EU, Hatzidakis said that the most important change is the introduction of the expenditure rule. "This rule allows for the implementation of countercyclical policies. In other words, it allows the Greek government and other member governments to keep spending stable even in times when the economy is not doing well. If the economy is outperforming, we will not be able to exceed the spending limit. But if the economy is underperforming, we will not be punished with further restrictive policies but will use the buffer to deal with the difficulties."