Greece's Ministry of National Economy and Finance published the full text of Minister Kyriakos Pierrakakis’ speech to the annual dinner of the Franco-Hellenic Chamber of Commerce and Industry, setting out his assessment of Greece’s recent fiscal and macroeconomic performance and framing the Euronext proposal for the Athens Stock Exchange as a strategically important, privately driven transaction welcomed by the government. The speech pointed to a 4.8% primary surplus and a 1.3% net surplus, with public debt at 153.5% of GDP and falling, and an expectation that Greece will no longer be Europe’s most indebted country in GDP terms by 2029. It cited 2.3% growth, exports rising to 42% of GDP from 19% in 2009, investment at 15.3% of GDP versus 11% in 2019, and foreign direct investment at 2.5% of GDP. The minister also highlighted tax administration digitalisation, including the collection of around two-thirds of the VAT gap, and argued that European competitiveness should focus on removing internal single market barriers, referencing the Draghi and Letta reports and an International Monetary Fund estimate equating services barriers to a 110% tariff and manufacturing barriers to 45%.
Ministry of National Economy and Finance (Greece) 2025-07-11
Greece's Ministry of National Economy and Finance backs Euronext’s proposed investment in the Athens Stock Exchange and cites a 4.8% primary surplus
Greece's Ministry of National Economy and Finance released Minister Kyriakos Pierrakakis’ speech highlighting fiscal achievements, including a 4.8% primary surplus and reduced public debt to 153.5% of GDP. The speech emphasized the strategic importance of the Euronext proposal for the Athens Stock Exchange and advocated for European competitiveness by removing internal market barriers. Key economic indicators included 2.3% growth, exports at 42% of GDP, and advancements in tax administration digitalisation.