GREEK ECONOMY

The president of Enterprise Greece, Ioannis Smyrlis said that the year 2021 was a milestone for Greek exports, which set a record of 40 billion euros, corresponding to 22% of GDP.

Tax returns totaled 3.575 billion euros, up 704 million from targets, while Public Investment Programme revenue was 1.921 billion euros, down 849 million from targets. 

Commenting on this development, Alternate Minister Theodore Skylakakis said that this performance is compatible with high economic growth rates this year, while advance collection of nex months' revenue is adding safety to an implemented fiscal policy.

Staikouras said that the available fiscal space in 2022 is fully used by the heating allowance, cost-of-living benefit and electricity subsidies. However, he added, "we have set aside 'supplies' to deal with emergency situations as well".

Finance Minister Christos Staikouras said that in one of the most difficult and tumultuous periods of modern world history, the Greek economy has not only shown resilience, but is becoming stronger.

The government's economic team is optimistic that there will be sufficient fiscal space for significant announcements, while the proposals under consideration include both permanent measures and one-off support measures for households and businesses.

The biggest increase in turnover in June 2022 compared with June 2021 was recorded from the enterprises of the section Accommodation and Food Service Activities, per 141.4%.

Exceeding the revenue target for July was also particularly important. Specifically, revenues were higher by 1.582 billion euros reaching a total of 6.421 billion euros, with an increase over the target by 32.7 pct.

According to Finance Minister Christos Staikouras, Greece will be able to exercise its economic policy freely, with priorities determined by the government and not by Brussels, while it will be subject to the same control rules to which the rest of Europe is subject to.

Finance Minister Christos Staikouras said that the aid will be given where there is a need, adding that the targeting will mainly concern the middle class and the lower income citizens.