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Economy

FinMin Staikouras Satisfied with 6th Enhanced Surveillance Report on Greece

ATHENS – Finance Minister Christos Staikouras on Thursday said that he was particularly satisfied with the 6th Enhanced Surveillance Report on Greece released by the European Commission, on the basis of which a "green light" has been given for the disbursement of a 748-million-euro installment of ANFAs and SMPs, the profits from Greek bonds held by the European Central Bank and the central banks of EU member-states. The minister pointed out that the Commission recognises the country's efforts in the economy, even in the midst of particularly adverse conditions.

In particular, he stated the following:

"The European Commission yesterday published the 6th Enhanced Surveillance Report on Greece. The report, published in the midst of an unfavourable global economic environment, is considered particularly positive for Greece.

"It recognises the timely and responsible attitude adopted by the Greek government toward the coronavirus pandemic and its economic consequences.

"It confirms the speed and adequacy of the government's support measures, aimed at supporting employment and boosting liquidity in the economy.

"It emphasises the contribution of measures to the faster restart of the economy, the protection of jobs and the viability of businesses.

"It predicts, after a significant recession that will be recorded this year, mainly due to the large share of tourism in GDP, a strong recovery in 2021.

"It sees an increase in unemployment for this year, but its decline in 2021, at levels lower than in 2019.

"It notes the positive course in the implementation of important reforms, despite the unfavourable situation of the last period.

"It pointed out that the Greek government is taking additional initiatives to address structural weaknesses.

"It praised the relationship of trust and the close cooperation of the Greek authorities with the institutions.

"Finally, it gives a 'green light' for the release of the third installment of the profits of the European central banks from the Greek bonds, of the well-known ANFAs and SMPs, amounting to 748 million euros. It is recalled that it will be the second installment released under the New Democracy government in a year.

"As Minister of Finance, I am particularly pleased that the European Commission recognises the efforts being made in the field of the economy, even in the midst of particularly adverse conditions.

"We all believe in this effort and its positive results.

"With faith in our strengths, unity, solidarity, coordinated action and hard work, we are trying to pick up the 'thread from the point where we left off before the health crisis, regrouping our forces where this is called for."

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