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Economy

Gentioni Congratulates Greece for Rapid Adoption of Measures to Support the Economy

ATHENS — EU Commissioner for Economy Paolo Gentiloni said he was impressed by the measures that Greece took in order to tackle the pandemic at all levels.

Speaking at an online conference organized by the European Commission in co-operation with the Foundation for Economic and Industrial Research (IOBE) entitled "Stimulating a resilient recovery for Greece through investments, digital transformation and green economy", Gentiloni expressed his confidence that, with full utilization of the European Recovery Fund's resources, the Greek economy will flourish and Greece will be able to play an important role in the region. The Commissioner noted that the Commission does not see a second round of the pandemic in Europe, but stressed that uncertainty remains for its economy.

Gentiloni congratulated the Greek authorities and especially Finance Minister Christos Staikouras for the rapid adoption of a comprehensive package of measures to support the economy, amounting to 10.5 pct of GDP for 2020. The next challenge for Greece, as for the other EU countries, he added, it will be to make full use of the important EU resources that will be available to finance the recovery. This, he said, would require a clear set of goals with agreed schedules and milestones, while stressing that the first step would be the recovery plan that Greece will submit, which should focus on the green transition of the economy and its digital transformation.

The Commissioner said that this is an opportunity to implement reforms to eliminate the narrow-mindedness that has long negatively affected the productivity and the growth of the Greek economy. It is also an important opportunity to make investments that will make the economy more innovative, competitive, fair and future-oriented, he added.

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