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Economy

Staikouras: Greece Handled An Unprecedented Economic Crisis in a Methodical Manner

ATHENS — "The government handled an unprecedented economic crisis in all fields and at all levels methodically, with seriousness and insight. It supported public health, it supported households and businesses with measures approaching 40 billion euros in the period 2020-2021," Finance Minister Christos Staikouras said on Thursday at the 2nd Regional Growth Conference held in Patras.

He also stated that "for 2021 the measures are in the vicinty of 16 billion euros, since the funds have not yet been fully disbursed. An amount of 4.5 billion euros is pending to be paid in the second half of the year, through various programmes that we have built coherently as a government."

Staikouras pointed out that "these were done through a rational systematic management of the country's cash reserves, through frequent communication and contact with the markets, through the raising of 25 billion euros in the last two years on extremely favourable terms with historically low interest rates, by raising funds through interest-bearing bonds with systematically negative interest rates, the lowest interest rate on six-month bonds, but also through European funds, such as the SURE programme, from which the country has already raised more than five billion euros and has channelled it all into employment."

In fact, he stated "we did this in the fiscal field and in the field of structural changes in order to create the conditions for a strong recovery and sustainable development."

The 2nd Regional Growth Conference is organized by the Patra-based "Peloponnisos" newspaper, and is taking place on June 3-5. Athens-Macedonian News Agency (ANA-MPA) is the event's media partner.

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