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Politics

Georgiadis: Imported Inflation Crisis Will Be Handled with Effective Measures,

September 17, 2021

ATHENS — "The government, with effective measures, will face the imported inflation crisis," Development and Investments Minister Adonis Georgiadis said on Friday in parliament.

Georgiadis estimated that "by Christmas, the reverse course of this whole phenomenon will begin as global demand will be met, the Christmas period will be over and the economy will be slowly recovering."

"As long as," the minister stressed, "the forecasts of international companies for high growth in 2021 are confirmed, if necessary, there will be the fiscal space for additional support measures."

"The economic measures we have taken so far have an extremely positive imprint and we say to the Greek citizens that, as we dealt with the previous crises, we will now face, with logic, prudence, wisdom but also with effective measures the imported inflation crisis," Georgiadis said.

The minister cited data showing that the average inflation in Greece in August was 1.9 pct adding that "this is the fourth lowest inflation in the entire European Union" and according to September data, it is most likely that Greece will be in the second best position in the EU."

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