Greece's Ministry of National Economy and Finance sets out investment-led growth agenda and backs HCAP’s evolution toward a sovereign wealth fund

Greece's Ministry of National Economy and Finance published a speech by Minister Kyriakos Pierrakakis at the Athens International Investor Summit on “Investing in Innovation and Infrastructure as Drivers of Growth”, outlining the government’s growth priorities and positioning capital formation and institutional upgrades as central to attracting international investment. The remarks also endorsed strengthening the Hellenic Corporation of Assets and Participations and evolving it into a Development Fund as part of a path toward a comprehensive Greek sovereign wealth fund. The minister pointed to Greece being among six European Union member states running a fiscal surplus, supported by the incorporation of digital technologies into financial systems that has helped curb tax evasion. He cited public debt at 153.5% of GDP but falling rapidly, and growth at 2.3%, above the EU average. On structural indicators, he said investment rose from 11% of GDP in 2019 to 15.3%, while exports increased from 20% of GDP in 2008 to 42%, compared with an EU average of 51%. Examples of recent market developments included Euronext’s proposal to acquire the Athens Stock Exchange and UniCredit’s proposal to build a stake in Alpha Bank, alongside ongoing investment in the energy transition and a call to remove remaining barriers between EU member states referenced in the Draghi and Letta reports.