Greek Economy Minister presents 9 initiatives towards economy transition

Addressing the 6th Athens Investment Forum, Hatzidakis said the plan envisaged

Greek National Economy and Finance Minister Costis Hatzidakis on Tuesday presented a plan of 9 initiatives towards the transition of the economy based on the quantative and quality increase of investments and aimed to further upgrade the country’s credit rating.

Addressing the 6th Athens Investment Forum, Hatzidakis said the plan envisaged:

1. Adhering to fiscal goals. “It’s very important that we obtained the investment grade from S&P two weeks ago, but this is not enough. We want to obtain the investment grade from the rest of the big credit rating firms and to keep rising the steps,” he noted.

2. Improving business environment by accelerating justice procedures, digitalization, strengthening the banking system (addressing non-performing loans and boosting competition).

3. Exploitation of the biggest in history package of public funds because of the Recovery Fund and EU-funded programmes.

4. Exploitation of public assets, with priority given to the remaining regional airports, completion of the concession of Egnatia Road and the listing of Athens International Airport on the stock market.

5. Emphasizing on sectors with competitive advantage (pharmaceuticals, agri-food, renewables) and inviting Greek shipowners to invest.

6. Supporting innovation and activities with high added value such as IT.

7. Incentives to maximize enterprises.

8. Incentives for the digital and green transition of enterprises.

9. More and higher-quality job positions, reducing non-payroll cost, faciltating the entrance of young people and women in the job market and upgrading vocational training.

“Our goal is the achieve a change in example. To complete the transition from an economy in deep crisis for a decade into an economy that positively surprises the whole of Europe and the world and grows fast and dynamically,” Hatzidakis said.