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  • Moscovici: Sustainable development contingent on implementation of reforms

    “The extensive reforms Greece has carried out have laid the ground for a sustainable recovery. This must be nurtured and maintained to enable the Greek people to reap the benefits of their efforts and sacrifices,” Moscovici said.

    epa07150248 European Commissioner for Economic and Financial Affairs, Pierre Moscovici gives a press conference on the Autumn 2018 Economic Forecast at the European Commission in Brussels, Belgium, 08 November 2018. EPA/STEPHANIE LECOCQ

    European Economic and Financial Affairs Commissioner Pierre Moscovici said that Greece, having completed its fiscal adjustment programme in August, has turned a page, and that the preconditions now exist for sustainable development over the coming years.

    Speaking at a press conference where he presented the Commissions’ economic forecasts, Moscovici underlined that the working hypothesis on which that projection is based is the continuation of reforms and an unswerving implementation of the policies to which Athens has agreed with creditors.

    “The extensive reforms Greece has carried out have laid the ground for a sustainable recovery. This must be nurtured and maintained to enable the Greek people to reap the benefits of their efforts and sacrifices,” Moscovici said.

    Noting that the Greek economy is expected to expand by two percent this year and next, Moscovici said that the Greek primary surplus is expected to be higher than expected.

    Consequently, there are ongoing discussions about how the part of the surplus that exceeds targets can be used in order to stimulate growth, the Commissioner noted.

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