Greece’s Ministry of National Economy and Finance published remarks by Minister Kyriakos Pierrakakis at Naftemporiki’s 4th Economic Conference, framing competitiveness as the top national and European priority and calling for deeper European integration through the Union of Savings and Investments (Capital Markets Union) and the Banking Union. He highlighted Greece’s fiscal and digital advances while pointing to remaining gaps in productivity, exports and investment, and flagged forthcoming domestic measures to remove growth barriers, including legislation to enable better use of public and foundation assets. In the European context, he referenced IMF estimates of “invisible tariffs” within the European Union at around 110% in services and above 45% in manufacturing. On Greece’s metrics, he cited a post-Covid public debt peak of around 210% and a draft budget projection of 137.6% of gross domestic product (GDP), alongside primary surpluses; exports rising from 20% of GDP at the start of the crisis to 42% (versus a 51% EU average); and investment increasing from 11% of GDP in 2019 to a projected 18% in 2026 (versus a 21.2% EU average). He also pointed to Greece’s improvement from last place in 2019 to above the EU average within four years on an EU digital public services ranking, and cited a poll that placed gov.gr as the second most popular reform after the creation of the National Health System. Looking ahead, he said the ministry plans to submit to parliament a bill covering long-established foundations whose assets have not yet been valued, with the aim of enabling their utilisation, including potential housing stock.
Ministry of National Economy and Finance (Greece) 2025-10-30
Greece’s Ministry of National Economy and Finance outlines competitiveness agenda and signals bill to unlock historic foundations’ assets
Greece’s Minister of National Economy and Finance, Kyriakos Pierrakakis, prioritized competitiveness at Naftemporiki’s 4th Economic Conference, advocating for deeper European integration through the Capital Markets and Banking Unions. He noted Greece's fiscal and digital progress, gaps in productivity, exports, and investment, and announced domestic measures to address growth barriers. Pierrakakis referenced IMF estimates of "invisible tariffs" in the EU and outlined Greece's economic metrics, including projected public debt reduction and increased exports and investment.