Staikouras: Τourism Will Perform Much Better This Year Compared to 2020

ATHENS — Τourism will perform much better this year compared to 2020, but obviously it will not cover all the losses from 2019, Finance Minister Christos Staikouras said on Friday in statements to public broadcaster ERT.

"In 2020 we had revenues of 4.0 billion euros, compared with 18 billion euros in 2019. This year it is estimated that revenues can double," the minister said, noting that tourism turnover in 2021 is estimated to reach 8.0 billion euros, from 4.0 billion euros last year and 18 billion euros in 2019.

"We are doing the best we can, working consistently as a government to improve this figure, which is very important for the Greek economy," he said.

Asked about the repayment of 3.3 billion euros to the International Monetary Fund, he pointed out that precisely because of the state of the economy, deficits were increasing so the debt was higher and its sustainability burdened. "We also have to tap the markets, but at the same time we have to make moves to improve debt sustainability, such as the early repayment of the IMF, which helps us keep borrowing costs low so that we can borrow and help society," he said.



ATHENS - Greece is just one step away from gaining investment grade and must now focus all its efforts on achieving this goal, Bank of Greece governor Yannis Stournaras said in a meeting with Parliament President Konstantinos Tassoulas on Thursday, during which he delivered the central bank's Annual Monetary Policy Report 2021-2022 to the Hellenic Parliament.

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