Greek FinMin – GDP growth for 2021 revised upwards

Greek Finance Minister Christos Staikouras on Saturday confirmed that the government revising, upwards, its forecast for economic growth this year, speaking at “OT” pavilion at the Thessaloniki International Fair (TIF).

He said specific numbers will be announced hours later by Greek Prime Minister Kyriakos Mitsotakis during the annual state-of-the-economy address given by the premier at the country’s biggest trade exhibition and convention.

Staikouras appeared in the agreeable position – usual for a Greek finance minister over the past decade – of citing mostly positive developments on the economic front, also a rare development after a decade of three memorandum bailouts and a Covid-devastated recovery after 2019. For instance, he said cash reserves in state coffers remain above 40 billion euros. On the spending side, he said four billion euros will be allocated in the second half of 2021 for pandemic-affected households and businesses.

Staikouras cited four “keys” for the economy’s prospects, namely, privatizations, growth, cash reserves and a further reduction in NPLs.