Staikouras Presents Basic Reforms Included in Greece's National Development Plan


Greek Finance Minister Christos Staikouras. (Photo by Eurokinissi/ Sotiris Dimitropoulos)

ATHENS -- Greek Finance Minister Christos Staikouras on Tuesday presented the basic reforms included in Greece's National Development Plan. Addressing a 7th Strategic Conference "Investments in Greece and development prospects" organised by the Athens Chamber of Tradesmen, Staikouras said the key for 2021 to become a year of strong recovery for the country was to maximise the exploitation of all domestic and European funds and tools and most importantly an EU Recovery Fund currently under negotiation.

He noted that reforms will focus on: implementing a prudent fiscal policy with a gradual reduction of tax rates and primarily social insurance contributions, continuing a privatisation programme, a further modernisation and improvement of investment attractiveness of the economy through a series of legislative changes, implementing structural reforms on the regulatory framework for business activity, management of public investments, agricultural policy, research and innovation, etc and finally a transition into a sustainable model of economic growth, with the support of investment initiatives of high added value through infrastructure investments focusing on green economy, digital transformation of the public sector and the Greek economy and investing in human capital.

The Greek finance minister said that a third round of support measures, worth 3.0 billion euros, in August will include suspending tax and social insurance contributions for households and enterprises for all the months of the pandemic crisis and favourable repayment terms of up to 24 monthly tranches beginning in 2021. A 25 pct discount for timely payment of taxes, a planned, generous reduction or even zero advance tax payment for enterprises, subsidised interest on all business loans for enterprises hit by the crisis, offering working capital to enterprises, new loans to small- and medium-sized enterprises and a new regulatory framework for micro-finance.