ECONOMY

SEV president warns of fiscal complications

sev-president-warns-of-fiscal-complications

The head of Greece’s industrialists has warned that if taxation and the cost of keeping a business keep rising, the country will be threatened with a serious deterioration in public revenues while it may no longer be able to hold on to talented human resources and competitive enterprises.

Theodoros Fessas voiced his concerns in an interview with German newspaper Handelsblatt. He also stressed that the message foreign investors have sent to the Greek government is for “an immediate lifting of the uncertainty and the building of confidence,” which can only be achieved through the completion of the bailout review.

The president of the Hellenic Federation of Enterprises (SEV) further highlighted two crucial factors for attracting foreign investments to Greece: that foreign companies feel safe and welcome to invest in the country, and that Greek and European political leaders encourage the country’s return to normality and stability, including living up to their common responsibility for the management of refugee flows, by all possible means.

As for privatizations, Fessas acknowledged the progress recorded but said “more decisive leadership is required from now on.”