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The recovery path of the Greek economy is definitive and irreversible | TheGreekDeal.com
Kyriakos Mitsotakis
The recovery path of the Greek economy is definitive and irreversible
Prime Minister Kyriakos Mitsotakis unfolded his own broader remarks on the new productive model of Greece, presented by Development Minister Takis Theodorikakos, stressing that the course of recovery of the Greek economy is now "definitive and irreversible,".
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Prime Minister Kyriakos Mitsotakis

Prime Minister Kyriakos Mitsotakis unfolded his own broader remarks on the new productive model of Greece, presented by Development Minister Takis Theodorikakos, stressing that the course of recovery of the Greek economy is now "definitive and irreversible," as none of the reasons that led the country to the multi-year crisis that has plagued the country's society now exist.

"The economy is generating primary surpluses, reducing public debt at the fastest pace in Europe, while public spending is rising, taxes and contributions are falling, the banking sector has now been rehabilitated and is performing its role of financing the real economy, and the external deficit is declining," he observed, stressing that the recovery is reflected in the recovery of investment grade and confidence in Greece, which is surrounded by foreign institutions, the markets with the de-escalation of borrowing costs, and the spread of Greek bonds.

"This course was not predestined by law," Mitsotakis pointed out, underscoring that Greece is presented to Europe as an example to follow, as it has achieved something that is not easy: it has combined fiscal discipline with the achievement of primary surpluses and dynamic growth (above the European average) in conditions of political stability, with a government that has proven that it is implementing its commitments with credibility.

Regarding the nature of economic activity, he noted that consumption plays an important role in the structure of Greek GDP, but this relationship is changing with the growth of investment and exports. Exports of goods and services amounted to 50% of GDP, while investment increased significantly in the five-year period, when in Europe it remained stable, reflecting the dynamism of the Greek economy, which is breaking its dependence, as in tourism.

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