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Economy

Staikouras: Greece Will Not Impose a New Lockdown

November 26, 2021

ATHENS – Greek Finance Minister Christos Staikouras on Friday reiterated that the government will not impose a new lockdown and that the country’s cash reserves were secure and sufficient to meet any possible crises.

In comments made to SKAI radio, the FinMin said: “We will be at society’s side for as long as it takes in 2022 also, both on the pandemic front and for the energy crisis.” Staikouras noted that the government will have disbursed 43.3 billion euros to support society between 2020 and until 2022 and stressed that the money borrowed by the country was raised with very favourable conditions.

He said that the state budget’s primary deficit will reach 7% of GDP, or 13 billion euros, this year, while the country’s public debt will reach 200% of GDP or 350 billion euros. Staikouras said he expected that Europe will begin a fiscal adjustment in 2022 without any austerity measures but through economic growth and that fiscal rules will come back in force from 2023.

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