In a Cabinet meeting chaired by Prime Minister Kyriakos Mitsotakis, Greece unveiled a series of landmark initiatives spanning labor, economy, tourism, and digital transformation. The session highlighted the signing of a Historic Social Agreement, the presentation of the Multiannual Fiscal Planning 2026-2029, the new National Development Program 2026-2030, and several important legislative proposals.
Historic Social Agreement:
The Social Agreement introduces an expansion of collective labor agreements, full protection of employees after contracts expire, and faster dispute resolution procedures. For workers, this means higher wages, a stable and secure work environment, and reduced stress. For businesses, it brings stability, clearer rules, and enhanced opportunities for investment.
Multiannual Fiscal Planning 2026-2029:
Greece projects GDP growth at 2.4% in 2026, 1.7% in 2027, 1.6% in 2028, and 1.3% in 2029. The primary budget surplus is estimated between 2.7% and 2.8%, while public debt is expected to decline to 119% of GDP by 2029. Fiscal measures include tax relief for pensions, property tax (ENFIA), self-employed professionals, social security contributions, and property owners. The National Public Investment Program will increase to €4 billion by 2029, supporting continued infrastructure and development projects.
National Development Program 2026-2030 (NDP):
The NDP carries a budget of €16.6 billion and focuses on infrastructure, digital and green transition, artificial intelligence, and social cohesion. Innovative financing tools, public-private partnerships, and a five-year program period (with a two-year extension for project completion) underpin the strategy.
The NDP sets out 6+1 key development goals:
- Social cohesion and development
- Infrastructure and transportation
- Civil protection and climate resilience
- Innovation, competitiveness, and export promotion
- Digital transformation and AI
- Green development and sustainability
- Program support and monitoring
Key Legislative Initiatives:
- Cadastre/Building Authorities: Streamlined permitting procedures, establishment of a unified national authority, and advanced digital infrastructure.
- Inheritance Law: Strengthened protection of the testator’s intentions, introduction of new inheritance contracts, and separation of estate debts from personal assets.
- Intelligent Transport Systems (ITS): Harmonized European framework for ITS, road safety improvements, green mobility, and interoperability across EU countries.
- Tourism: Modernized regulatory framework, improved infrastructure and education, promotion of special tourism forms including agro-tourism, and enhanced role of the Greek National Tourism Organization (GNTO).
Impact: These reforms mark a new era of social justice, economic stability, and digital modernization in Greece. They strengthen public investment, improve labor relations, foster sustainable development, and support social cohesion, laying the foundation for a resilient and forward-looking economy through 2029.
Source: pagenews.gr