Chr. Staikouras: The Report certifies the great progress in the field of reforms

The Minister of Finance, Christos Staikouras, expresses his satisfaction for the conclusions of the European Commission in the context of the 12th Enhanced Surveillance Report.

“The European Commission today released the 12th Institutional Assessment Report, under the Enhanced Surveillance regime, which the country entered in the summer of 2018. This is the 9th consecutive positive Assessment Report during the period of the New Democracy government. “, and the Minister of Finance states and adds:” And for the 7th Report which – despite the great difficulties caused, at a global level, by the unprecedented coronavirus test – is successfully completed.

This result is the fruit, and at the same time the culmination of the intensive and methodical work, as well as the efficient cooperation of the members of the Government, under the guidance of the Prime Minister.

The Report notes that the recovery of the Greek economy is gaining ground, despite the ongoing health crisis. He predicts, in fact, that this dynamic will be maintained, thanks to the implemented fiscal and monetary policy, as well as ‘the expected strong impetus from the implementation of the Greek Recovery and Sustainability Plan’. In addition, it makes specific reference to the effectiveness of the measures taken, and still being implemented, by the Government to protect jobs in vulnerable sectors and to ‘safeguard the dynamism of the business sector during the pandemic’.

At the same time, the Report welcomes the completion of two important interventions in the fields of fiscal policy and energy. This is the presentation of the Functional Classification of General Government Expenditures in the 2022 Budget – which allows citizens to know the total expenditures of all General Government agencies by sector of operation of the state such as Education, Health, Social Protection, Environmental Protection etc. -, as well as measures to strengthen competition in the electricity market, which closes the longest-running case of distortion of competition in the electricity market in the European Union.

In addition, it certifies that the Government has made significant progress in scope of reforms, in a number of areas, such as the privatizations – where special reference is made to the Egnatia Odos, DEPA Infrastructure, the Regional Ports and the development of the property in Gournes, as well as to the updating of the Strategic Plan of EESYP -, the simplification of the licensing process for making investments, the digitization of the State, the integrated system of human resources management in the Public Administration, the Land Registry, the new disability certification framework, the measures taken to adopt the remaining recommendations of the Group of States against Corruption (GRECO), the changes in ENFIA, the full operation of the Project Maturation Unit of the HRDH, the future of the Financial Stability Fund, and a series of reforms in the field of Justice.

While, confirms the sustainability of public debt and underlines the benefits of the promoted early repayment of the balance of loans to the IMF, as well as a significant amount of bilateral loans to the Eurozone countries, which were concluded in 2010, under the first fiscal adjustment program.

He also points out the maintenance of the country’s cash resources at high levels and the significant reduction of non-performing loans in the banks’ portfolios.

Finally, it gives the “green light” for the release of the 6th installment of the profits of the European central banks from the Greek bonds, the well-known ANFAs and SMPs.

It is reminded that it will be the 5th installment that will be released in two years, strengthening, in total, the country’s cash resources by about 3.5 billion euros.

All of the above is another recognition of the systematic joint effort of all of us – citizens and the State – in the field of economy, in an environment of ongoing – internationally – great difficulties and challenges.

A recognition which, however, does not make us complacent.

On the contrary, we continue the hard work even more intensively, working with a plan, responsibility, confidence in our strengths and the capabilities of our homeland, in order to overcome the successive, external crises and to make Greece comprehensively stronger “.