We accelerate our pace and lead the country back to normal it

By Christos Staikouras*

Greek citizens recently gave us a strong mandate to return this country to normality. We heard this message, took on the responsibility and we are implementing our plan, step-by-step, with a surplus of pragmatism and determination.

Within the first 50 days, we have already managed to lower the Unified Property Tax (ENFIA) for owners by an average of 22%; to improve the debt settlement framework for taxpayers; to lift capital controls completely; to simplify the processes for the protection of primary residence; and to create new and flexible state structures. The 84th Thessaloniki International Fair is therefore taking place during a period of relaunch for Greece.

The government’s economic staff is planning and implementing policies aiming to constantly maintain the balance between efficiency and equality and between economic effectiveness and social awareness. Our primary goal is sustainable growth. We believe in growth at a fast rate, with sound public finances, a stable banking sector, coverage of the investment gap, an extroverted orientation and a digital footprint, with more full-time jobs, more fair distribution of the wealth and with prosperity for all.

Our key priorities, among others, are:

• Completing the new taxation code, that will create a new stable taxation framework and will constitute an extensive and cohesive reform.
• Broadening of the taxation base by expanding electronic transactions and electronic governance.
• Setting realistic expense ceilings for all General Government bodies and evaluating public expenses.
• Reducing non-performing loans, in order to allow banks to operate once again as a driving force and relaunch the financing of businesses and households in a sound manner.
• Accelerating the agreed privatisation programme and promoting emblematic investments, such as the Hellinikon Project.
• Implementing the Public Investments Program and repaying public sector debts to the private sector.
• Investing in endogenous sources of growth, such as education, research and innovation, which will play a critical role in the reconstruction of our country.

The Greek economy is already on a recovery trajectory. The leading indicators of economy, such as the improved economic climate and the constantly shrinking borrowing cost, confirm this.

We cannot however be complacent or start celebrating. We are accelerating our pace along a virtuous ascending spiral, implementing our plan in order to achieve high and sustainable economic growth, create many and well paid jobs and reinforce social cohesion.