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Economy

Greek FinMin Presents 8 Tools to Fund Economic Recovery

October 10, 2020

ATHENS — The expectation that 2021 could become the starting point of a new course after the pandemic, with high growth rates, was expressed by Greek Finance Minister Christos Staikouras, addressing the 3rd Athens Investment Forum, and added that this growth will be funded with 8 tools.

More specifically, these tools are:

1) exit in international markets. The government has successfully raised 14 billion euros from capital market in the last 14 months, taking advantage of record-low interest rates and at the same time issues more treasury bills to reduce its borrowing costs.

2) Disbursement of gains from ANFAs and SMPs.

3) Use of Eu funds and in particular the European Recovery Fund. Greece is expected to receive 32 billion euros by 2026, of which 19.3 billion in subsidies and 12.7 billion in low-cost loans.

4) State loans to enterprises, worth more than 4 billion euros.

5) Supporting small- and medium-sized enterprises with state guarantees around 2.5 billion euros.

6) Offering around 11 billion euros through a Guarantee Fund to support enterprises.

7) satisfactory execution of the state budget in 2020 and

8) The re-activation of the banking sector to fund enterprises and offer micro-investments.

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