Greece’s Economy Overtakes EU Average, Says Commissioner Gentiloni

Greek Finance Minister Kostis Hatzidakis and European Economic Commissioner Paolo Gentiloni. Photo source: Economy Ministry

The Greek economy is demonstrating resilience managing to overtake the EU average, said European Economic Commissioner Paolo Gentiloni during a meeting this week in Athens with Greek Finance Minister Kostis Hatzidakis.

Gentiloni commended Greece for its positive performance which he attributed to prudent Greek government policies and steadfast EU support.

Among others, the two officials also discussed the rate of recovery and resiliency fund (RRF) absorption and implementation, tax policy issues, and a new set of fiscal regulations.

Gentiloni admitted that economic activity in the EU was “rather weak”, adding that last year, 11 member states reported negative growth. He went on to add however that there was slight optimism expected in the second half of 2024, forecasting a reduction in inflation.

Commenting after the meeting, Hatzidakis said Greece had made remarkable strides in recent years, which was the result of the government’s resolve to implement reforms, referring among others to efforts to tackle tax evasion, a bill to encourage business mergers and innovation, and changes aimed at making the country’s superfund subsidiaries more flexible and efficient. He also attributed the robust performance to the government’s pro-investment approach.