G. Chatzitheodosiou: The Ukrainian crisis will aggravate the problems of the Greek economy

“The Ukrainian crisis will aggravate the problems of the Greek economy,” said in a statement the president of the Athens Chamber of Commerce, Giannis Chatzitheodosiou.

In particular, Mr. Hatzitheodosiou said: “What we were all avoiding has finally happened and the drums of war are now ringing in Europe as well. It can also be seen from the “dive” that the stock exchanges are making so far.

But especially for our country there is strong concern about its adequate supply of natural gas, while if the crisis continues then it is very likely to see negative developments in other critical sectors, such as tourism.

In other words, this is another blow to the Greek economy, especially at a time when the wave of accuracy threatens the viability of the majority of small and medium-sized businesses. Without the war in Ukraine we would have had high inflationary pressures and my estimate was that market price increases would exceed 30% while inflation would climb close to 8%. I am now afraid that due to the Ukrainian crisis my estimates, as well as those of other market players, will be adjusted upwards.

The new data further demonstrate the need for emergency measures to support households and businesses. The alarm bell is ringing loudly and I hope that our partners will hear it and that there will be an agreement on additional financial tools so that citizens and businesses can withstand the new blow. In any case, the government must exert as much pressure as possible, claiming the obvious. “Let us not lose control and let us not experience a humanitarian crisis in our country because of the price increases.”