Mr. Hatzidakis: Fiscal Surpluses as the Cornerstone of Government Policy

10:50 26/10/2024 - Πηγή: iEfimerida

In a recent interview with CNBC, Minister of Economy and Finance K. Hatzidakis emphasized that achieving primary fiscal surpluses is a fundamental aspect of the Greek government's strategy.

The statement was made during his participation in the Annual Meetings of the International Monetary Fund (IMF) and the World Bank

in Washington, where he reflected on Greece's challenging economic history over the past decade.

"This government is committed to combining fiscal discipline with a business-friendly approach to ensure we avoid repeating the mistakes of the past," he said, reiterating Greece's intention to serve as a model for other EU countries by maintaining strict fiscal policies. 

The minister asserted that even in the absence of new EU fiscal regulations, Greece will continue to pursue prudent fiscal practices, recognizing that both Brussels and market investors closely monitor its financial conduct.  

In discussing the health of Greece's banking sector, Mr. Hatzidakis highlighted the strong interest shown by international investors in the Hellenic Financial Stability Fund's divestment efforts, viewing this as a positive indicator of economic stability and progress.

Turning to broader EU issues, Mr. Hatzidakis identified recent reports from Letta and Draghi as critical warnings that must be taken seriously. 

He argued for a more effective European Union, particularly in enhancing banking operations and capital market integration to improve Europe’s global competitiveness.

On the subject of EU-U.S. relations, Mr. Hatzidakis emphasized the mutual benefits of maintaining close partnerships, particularly in trade, saying, "This collaboration will be advantageous for both sides of the Atlantic." 

He stressed that the achievement of primary surpluses sends a powerful message to investors about Greece's dedication to learning from its past economic challenges .

Citing significant progress, Mr. Hatzidakis pointed out that Greece has created over half a million new jobs between 2019 and 2024, a development he directly linked to effective fiscal policies that establish a more credible economic environment.

He also remarked on Greece's performance exceeding forecasts from both the IMF and the European Commission, attributing this to the government's reliable policies. 

Over the past five years, he noted positive trends, including rising investments, declining unemployment rates, and a growth rate that significantly outpaces the European average.

As Greece continues on its path to economic recovery, Mr. Hatzidakis remains determined to uphold these strategies, viewing it as a patriotic responsibility to ensure a prosperous future for the next generation.

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