Athens: President of Eurogroup Paschal Donohoe said that he was optimistic about the “positive” and “bright” prospects of post-covid-19 economic recovery from Greece and Europe as a whole.
During his meeting with the Greek Prime Minister Kyriakos Mitsakis on Friday, Donohoe said that growth would be accelerated by the national recovery plan and resilience to be carried out throughout the European Union (EU), the Xinhua news agency reported.
“Apart from the pandemic and all difficulties, we never stop implementing real reforms, which I think position us well to take advantage of future growth which will also affect the Greek economy,” Mitsotakis said quoted by US Broadcaster National Greece.
Adage.
“For us, the challenge is not only to grow, but to grow better.
The type of composition of different growth, focus more on exports, on investment, in innovation and less consumption,” he explained.
“I fully agree with your optimism about the Greek economy,” Donohoe said.
“If I see the progress you have made so far and if I see the growth that will happen here in Greece this year and then is a sign of economic resilience.” The Greek economy shrank 8.2 percent every year in 2020, according to the initial estimate of the Hellenic Statistics Authority (Elstat).
The target of 3.6 percent of gross domestic product (GDP) growth this year and six percent in 2022 was realistic even though it was rather conservative, the Greek Minister of Greek Finance Christos Staikouras during a separate meeting with Donohoe.
Greece’s competitiveness improved, tourist arrivals have increased and bank deposits are increasing, said Staikouras.
One of the main challenges for Greece and other UE member countries is to operate EU recovery and endurance mechanisms in a fast and efficient way, it emphasizes.
Greece will receive 30.5 billion euros from funds for the next five years.
Greece’s plan predicted more than 106 investment projects in clean energy, digital transformation, education and social services and 68 reforms that aim to further enhance competitiveness and export, and to improve the business environment.
In the long run, the UE recovery fund will contribute 7 percent to Greek GDP.