This development also leads to the implementation of measures to alleviate public debt of 767 million euros. Tonight’s development was welcomed during the press conference after the meeting by the President of the Eurogroup Pascal Donahue, who also referred to the debt relief measures brought by the completion of the evaluation. Economy Commissioner Paolo Gentiloni also welcomed the fact that, despite the pandemics of the pandemic and the devastating August fires in Greece, the Greek authorities broadly complied with their reform commitments. The Italian commissioner also referred to the funding from the Recovery Fund, revealing that the first money will arrive in Greece in the coming weeks.
The head of ESM, Klaus Regling, also praised Greece, praising the fulfillment of the commitments, emphasizing that the Greek authorities have shown that they can face adversity and difficulties, while supporting the reforms. Mr Regling described the Recovery Fund’s resources as an opportunity to boost growth in the country.
Advances and delays
According to the Commission report, despite the above-mentioned difficulties, significant progress has been made on reforms in areas such as financial management, privatization, investment licensing and the energy market. Further progress is needed on financial, healthcare and justice reforms, as well as the repayment of overdue public debt, the text said.
The report welcomes the government’s commitment in all areas and encourages Athens to maintain this momentum and cover any delays. At the same time, he points out that the implementation of reforms and the implementation of investments under the Recovery Fund are expected to give a significant growth impetus and to be a springboard for strengthening the green and digital transition.
Repayments and growth
As the Minister of Finance Christos Staikouras pointed out, in today’s meeting was recognized, once again by all participants the immediate, targeted and effective response of the Government to address the effects of the health crisis on households and businesses. Despite the adverse conditions caused by the pandemic and the devastating summer fires, the further promotion and implementation of important reforms and structural changes was welcomed.
According to Mr. Staikouras, it is particularly important that the Eurogroup expressed its satisfaction with the intention of our country to proceed with early repayments of the balance of loans to the IMF, as well as a significant amount of bilateral loans to the Eurozone countries. , concluded in 2010, under the first fiscal adjustment program. Early repayments, as stressed, will be many benefits for the public finances of Greece.
The meeting also discussed the course of the European economy in relation to the Omicron mutation. As it turned out, the appearance of the Omicron mutation has raised concerns, but the general assessment that the economic outlook remains favorable does not change. As noted, growth in the second and third quarters of 2021 was dynamic and is expected to continue. For this reason, after all, the Commission maintained in the context of the autumn report the positive forecasts of last July for growth in 2022 of the order of 4.3%.
Nikos Bellos, Brussels
Source: Deutsche Welle
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Source From: Capital
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