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Politics

Staikouras: Viable Growth and a New Production Model Key for Greek Recovery

ATHENS — A strong recovery is not enough, it must be accompanied by a viable growth and a change in Greece's production model, Finance Minister Christos Staikouras said opening the 3rd Development Conference of Etoloakarnania, central Greece, on Friday.

At Nafpaktos, where the conference "A leap in development" is held, Staikouras said the government's plans focused on the following points:

– A targeted support of households and businesses, during a gradual transition to measures restarting the economy

– Sensible fiscal policy focused on further reducing taxes and insurance contributions

– Strong cash reserves through a consistent, smart and insightful strategy

– Further bolstering of the financial system

– Implementing infrastructural changes and reforms

– Rational use of available EU funds

– Creating a more flexible European fiscal framework

"We are already operating on these lines and on the assessments of the European Commission for all of Europe, which makes the case that Greece will have more than double the rates of growth of investments and exports compared to the average European rate for 2021-2022," Staikouras said.

"The country has managed to get upgraded by three credit evaluation agencies during the coronavirus health crisis, and the early indicators of the economy are showing that Greece will manage to recover," the Finance Minister said.

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