Parliament President Konstantinos Tasoulas received on Friday Bank of Greece (BoG) governor Yannis Stournaras and referred to the sound optimism of BoG's interim monetary policy report as well as to the recently voted budget.
Describing the BoG report, Stournaras noted that it included both positive figures and challenges. Specifically, he said that today's report is released in a period of deceleration in international economic activity but an increase in Greece's economic activity. He estimated that the rate of economic growth will be higher than that recorded in the report because it was not possible to incorporate the latest data of ELSTAT. So, 1.9 pct for 2019 and 2.4 pct for 2020 are probably outdated. "We will significantly exceed those rates," said Stournaras.
"We will move above 2 pct this year and well above 2 pct next year" due to increased domestic demand by improved disposable income and growth of investments.
On the "challenges" included in the report, the governor of the Bank of Greece pointed out that the fiscal discipline should continue and the target for primary surplus reduced, "always in consultation with our partners". He also said that reforms must continue. He even said that "what is good with this government is that they make them, not because they are coerced, but because they believe in them."
Moreover, he stressed that reforms along with privatizations will increase productivity and offset population decline.
Finally, in a conversation with journalists, Stournaras noted that Greece was lucky during the crisis. "The rock of the Acropolis saved us. Our partners would not let the cradle of culture and democracy collapse. No other country would have had the same luck," he underlined and welcomed the return of liquidity to the market.
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