As a clear recognition of the initiatives of the government and the Ministry of Finance over the past 5.5 years, the IMF delegation that visited Greece in the past few days, officials of the Ministry of Economy and Finance characterize the conclusions of the IMF delegation.

Commenting on the report, the same officials note that its main points show that there is strong growth momentum with rising incomes and a crackdown on tax evasion, while the debt is decreasing, and note that the text highlights the following elements that reflect the progress of the Greek economy in recent years:

• Strong economic growth based on investment and higher incomes: Real GDP grew by 2.3% in 2024, supported by investment through the Recovery Fund and increased private consumption due to rising real income.
• Success in reducing tax evasion: The IMF highlights the significant progress made in tackling tax evasion and improving tax compliance, thanks to the implementation of reforms and further digitization of tax procedures.
• Lower taxes, higher tax revenues: The IMF stresses that although the tax and social security contribution burden on labor has decreased by 4.5% since 2019, tax revenues are steadily increasing thanks to the fight against tax evasion.
• Unemployment has fallen to pre-crisis levels: The unemployment rate fell to 9.5% in the third quarter of 2024, the lowest level since 2009.
• Drastic reduction of public debt: The debt-to-GDP ratio fell by 50 percentage points from its peak in 2020.
• Strengthening of the banking sector. In particular, the non-performing loan (NPL) ratio has been reduced to 3% in 2024, while banks' capital adequacy has improved.
• Prudent fiscal policy ensures stability: The primary surplus is projected to remain high (2.5% of GDP in 2025), ensuring the sustainability of public debt.

In particular, the IMF projects the debt-to-GDP ratio to fall further by 25 percentage points by 2030, reaching a level below 130P. It also stresses that tackling tax evasion covers the cost of future reductions in social security contributions.