Seven interventions for the protection of the economy from international volatility on the occasion of the announcement of the imposition of duties by the President USADonald Trump, presented by the Vice President of the Government, Kostis Hatzidakisspeaking yesterday (3.4.2025) at an event of the Hellenic-Italian Chamber, held in Athens.
Mr Hatzidakis pointed out in this regard that despite the fact that only 5% of Greece’s exports are heading to the US, it would be wrong to consider that we were not affected.
“I have to note, as Vice -President of the Government and as a former Minister of Finance, because there are certainly secondary consequences on the European economy, and therefore on the Greek economy,” he said. “A great world economic and trade war has begun. I hope it will end as quickly as possible, but we have no doubt. There are no winners in the financial wars. There are only losers. “
Mr Hatzidakis emphasized that both the European Union and Greece must be shielded by careful movements that enhance their competitiveness, autonomy and durability. “We have to be more competitive. We need to strengthen our autonomy in strategic areas, such as energy, raw materials, in order to reduce our exposure to international economic disorders. And of course we must have the institutions and mechanisms to stay upright even in the most adverse conditions. To withstand the crises, but also to exploit them, as we attempt to do with the Recovery Fund as an opportunity to transform and accelerate the necessary changes. “
Interventions are coded as follows:
1. Attracting even more investmentamong other things, with the reform of the institutional framework to attract immediate foreign investment. At the same time, actions are proceeding for:
- Further simplifying the business environment, with the aim of reducing administrative burdens by 25%.
- Further accelerate the administration of justice.
- Completion this year of the National Land Registry, promoting local and special planning plans.
- Implement the new law on incentives in innovation and mergers.
2. Enhance the funding of the actual economythrough the regulations of the bill, discussed in the House, to further strengthen the capital market, the utilization of the NSRF and the recovery fund in conjunction with the Development Bank in particular to support the liquidity of small and medium -sized enterprises.
3. Strengthening extroversion. The main objective is to penetrate two very large purchaseswhich is India and China, with simplification and further digitization of customs processes and incentives for exports.
4. Upgrading of infrastructure. In addition to the infrastructure in energy, which allowed after many years in 2024 to become a net exporter of energy, critical projects such as: the expansion of the Thessaloniki Metro, the construction of the new International Airport in Kasteli, Heraklion, the utilization of regional ports, the promotion of the Network.
5. Expanding the productive base of the Greek economy. “There has already been a significant increase in industry participation in GDP in recent years. Greece is gradually changing. And the aim of the government is to boost this change in areas such as technologies and health applications, robotics, defense industry and ship repair and shipping, “Mr Hatzidakis noted.
6. Human resources. “Changes are also reflected in a decrease in unemployment, which has been reduced to 8.6%. We are enhancing this effort with massive workers’ training programs, with a focus on certification of skills, so that resources spent to take place and enhance the participation of women, young people and people with disabilities in the labor market, ”he said.
7. Financial Policy and Taxation. “I am proud, because when leaving the Treasury I handed over to my successor not only primary, but a normal surplus,” the Deputy Prime Minister said, adding: “This policy combines debt reduction with strong growth rates for European data and without prior efforts. And it has allowed us so far- and will allow us from now on- to have tax cuts and a social dividend that returns to citizens. “
“Greece,” he concluded, “from a black sheep of the European Union has turned into an example of success. No matter how many people want to reduce this effort, reality, international organizations, international analysts, all individual evidence shows that we are on the right track. What we promise is that we will continue on the same road, correcting errors where needed, but without promising miracles. “