Papadimitriou expresses resolve to continue ambitious reforms

'We need to go ahead with a restructuring of the national debt, so that trust and business recovery can gain momentum,' said the Economy Minister

Friday, February 09, 2018
Papadimitriou expresses resolve to continue ambitious reforms
Economy Minister Dimitris Papadimitriou has expressed the government’s resolve to ply ahead with its reform programme and said that the improve dynamic of the economy that that began last year will continue throughout 2018, with further rises in exports, direct foreign investment, and an upswing in salaried employment.

All this, he told a Greek-French conference today, entitled “Greece: The Paths of Hope”, will lead to an increase in private consumption and bolster Greece’s GDP.

Macroeconomic balance, ambitious reforms

“We have restored the macroeconomic balance of the economy and the requisite trust of the market and financial institutions. Entrepreneurial and investment activity has recommenced, yet much must be done in the way of reforms,” Papadimitriou said.

“The government is focusing on very important reforms, such as the restructuring of public administration, establishing more effective and rapid decision-making procedures, and taking measures to facilitate business activity. These are not easy reforms, but we have the political will to bring them to pass,” the economy minister said.

Debt restructuring, more new businesses

“After completing the European Stability Mechanism (ESM) programme in August, 2018, we need to go ahead with a restructuring of the national debt, so that trust and business recovery can gain momentum and give the Greek people a sense of relief,” said Papadimitriou.

He underlined that 2017 produced the greatest positive balance in the creation of new businesses in the last 10 years. About 6,000 new businesses were launched, an average of 507 a month, while in January, 2018, 769 new businesses were set up. That represents a 52 percent hike over the 2017monthly average.

Another strong sign of growth is the record 16.7 percent increase in the number of commercial containers at the ports of Thessaloniki and Syros.

A similar increase was noted at the port of Piraeus in 2017.