Staikouras on 11th evaluation – “It is the fruit of hard and systematic work”

“The European Commission today released the 11th Institutional Assessment Report, under the Enhanced Surveillance regime, which the country entered in the summer of 2018. This is the 8th consecutive positive Assessment Report during the period of the New Democracy government. “and for the 6th Report which – despite the great difficulties caused, at the global level, by the unprecedented coronavirus test – is successfully completed”, said the Minister of Finance, Christos Staikouras, in a statement  commenting on the 11th assessment of the Greek economy by the Commission .

Mr. Staikouras points out that “that this result is the fruit, and at the same time the culmination, of the hard and systematic work, as well as the excellent cooperation of the members of the Government, under the guidance of the Prime Minister”.

According to the Minister, the Report notes that the economy is showing signs of recovery faster than expected, although the resumption of economic activity took place later than had been foreseen in the previous Evaluation Report.

In fact, it makes special references to the effectiveness of measures to support employment and stimulate business liquidity, as well as measures to alleviate and strengthen those affected by the recent large fires.

It recognizes that the Government has continued, at a good pace, the implementation of reforms in a number of areas, such as the privatizations – where it welcomes the significant progress in the emblematic work of Elliniko, Egnatia Odos and DEPA Infrastructure – the interconnection of cash registers with Tax Administration, improving the business and investment environment and Digital Governance.

At the same time, it highlights the key role of the National Recovery and Resilience Plan “Greece 2.0”, so that our country emerges from the health crisis stronger and increases private and public investment.

It confirms that the impact of the pandemic on the financial sector is limited, thanks to the measures taken by the Government – with the “peak” the extension of the “Hercules” program, the law on debt settlement and the provision of a second chance and the “Bridge” programs – , as well as measures implemented at European level.

It emphasizes that the cash and cash equivalents remain at high levels, as the successful issues of Greek government bonds continue.

It certifies the sustainability of public debt, recording an improvement in the baseline scenario, compared to the 10th Enhanced Supervision Report.

All the above constitute another recognition of the methodical effort of all of us – citizens and the State – in the field of economy, under adverse – international – conditions.

An effort that continues without complacency, without overlooking that there are still significant challenges and difficulties.

Challenges and difficulties that we will face with plan, unity, responsibility, confidence in our strengths and in the prospects of the country, in order to make Greece stronger in all respects and its economy more dynamic, productive, extroverted and socially just.