Economy and Finance Minister Kostis Hatzidakis on Wednesday tabled the draft budget for 2025 in Parliament, to be discussed and voted on by MPs. Together with the draft budget, the minister also submitted the report on Tax Expenditures, the reports of the general directors of the General Accounting Office of State (taxation, customs, special consumption taxes, public property and public utility services of the economy and finance ministry), the annual report of the Fiscal Audit Directorate of the GAO, and other relevant documents, including the introductory report on the draft budget.
Submitting the budget in electronic form also, Hatzidakis noted that "this is a very sigificant day for us at the national economy and finance ministry, but also, I believe for the Hellenic Parliament. It is a great honour for Deputy Finance Minister Thanos Petralias and myself to be tabling the draft 2025 budget and its introductory report in Parliament."
Parliament President Konstantinos Tasoulas announced four sessions for discussion of the 2025 draft budget in the Parliamentary Committee for Economic Affairs, in the last week of November, while the debate before the plenary is to begin on December 11 and end with a vote on Sunday, December 15.
2025 state budget foresees strong growth
The Greek economy is proving to be resilient in an unfavourable and uncertain international environment, according to the final draft of the 2025 budget submitted to Parliament on Wednesday. This predicts strong growth, an "explosion" of investment, a percentage increase in exports that is greater than that of imports, a de-escalation of inflation and a further reduction in unemployment.
In particular, the draft budget forecasts that GDP will rise by 2.3% in 2025, from 2.2% in 2024 and 2.3% in 2022. Private investment is expected to increase by 6.7% in 2024 and 8.4% in 2025, up from 6.6% last year. The unemployment rate is predicted to decrease from 11.1% in 2023 and 10.3% in 2024 to 9.7% in 2025. Employment is forecast to grow by 0.7% in 2025, from 1.2% in 2023 year and 1.1% this year. GDP in absolute terms is expected to increase by around 10 billion euros in 2025, while the ratio of General Government debt to GDP is expected to decrease from 163.9% in 2023 to 154% in 2024 and further to 147.5% in 2025. A primary surplus of 2.5% of GDP in 2024 and 2.4% of GDP in 2025 is forecast.
Inflation, from an average of 3.5% last year, is expected to grow by 2.7% this year and slow to 2.1% in 2025. Private consumption will rise from 2.3% in 2023 and 2 .2% this year to 2.3% in 2025. Public consumption, by contrast, will be limited from 1.8% last year, to 1.7% this year and to 1.6% in 2025. Exports of goods and services will increase from 1.9% last year, by 5.4% this year and by 4% in 2025. While imports of goods and services will increase from 0.9% in 2023, by 4% this year and by 3.6% in 2025.
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