Chr. Staikouras after Ecofin: Support measures as needed – Prudent fiscal policy required at the same time

A prudent fiscal policy, a visionary publishing strategy and the continuation of the implementation of structural changes and reforms are the strategy required for Greece, in the midst of the challenges of the pandemic and the twin of high inflation – energy crisis, stressed the Minister of Finance Christos Staikouras, in a statement after at the end of the meeting of the Council of 27 Finance Ministers of the Member States of the European Union (Ecofin).

In his statement, Mr. Staikouras also referred to the challenges that concern the whole of the EU, in the midst of a new escalation of the pandemic, due to the Omicron mutation.

In detail, the Minister of Finance states:

“During the two-day work of the Eurogroup yesterday and Ecofin today, the strong recovery and sustainable development of European economies was recognized.

This is based on the strong support packages we co-decided at European level, as well as on the coordination of fiscal and monetary policy.

But there are challenges.
Challenges facing European households.

Challenges arising from the “Micron” mutation and the health crisis, but also challenges arising from high inflation.

Inflation, which lasts longer than initially estimated, is more pronounced, unfavorable, features in the family budget and comes, at least 50%, from the energy crisis.

In the face of these challenges – at European level – we continue to support measures for as long as necessary until the crises are addressed, and fiscal adjustment, the necessary fiscal stability, we have decided not to work to the detriment of growth.

It goes without saying that the emphasis should be on investing in new technologies and innovation.

In this international environment, full of challenges, the Greek economy has succeeded satisfactorily and has very positive prospects.

We have recovered strongly, unemployment has decreased, padlocks have been avoided, the disposable income of citizens has been strengthened, “red” loans have been reduced, competitiveness has improved.

And all this is recognized by all partners, by all institutions, by all colleagues.

Greece, however, is facing challenges.

A prudent fiscal policy, a prudent publishing strategy and the continued implementation of structural change and reform are required.

“So that the country can achieve, as it seems, high and sustainable economic growth, create even more new, well-paid jobs and strengthen social cohesion.”