Prime Minister Samaras to present new growth plan on Tuesday

The Prime Minister Antonis Samaras will present his ambitious new growth plan on Tuesday, according to which the new production model will…

The Prime Minister Antonis Samaras will present his ambitious new growth plan on Tuesday, according to which the new production model will create some 550,000 jobs will be created over the next four years.

The new plan involves taking small and medium-sized enterprises taking advantage of NSRF funds, while further funding is made available through the European Investment Bank and the newly-formed Greek Institution for Growth.

At the forefront of the new plan are tax cuts for businesses and taxpayers alike, as well as a reduction of social security contribution and indirect taxes on production (such as energy). The plan reportedly has provision for supporting social cohesion.

The overall strategy focuses on reforming the production model in Greece, with a stress on the sectors of tourism, primary production and agricultural manufacturing, energy, transit trade and combined transport, research, technology and innovation, pharmaceuticals, metal industry, construction materials, shipping and services.

With foreign investments being essential, the Samaras growth plan involves simplifying procedures, reducing bureaucracy and deregulating the market, in order to support competition and take advantage of public property.

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