ECONOMY

Finance minister sets 2020 goals at first bourse session

finance-minister-sets-2020-goals-at-first-bourse-session

Greece’s Finance Minister Christos Staikouras set a number of goals for the economy in 2020, including achieving a high and sustainable growth, before he rang the opening bell in the first session of the Athens Stock Exchange on Thursday.

Staikouras said the ministry wants to redistribute incomes to improve social cohesion, improve household income through mainly larger than originally planned tax cuts, enhance liquidity, change fiscal targets, as well as strengthen money and capital markets.

The new Greek government hopes to reduce the country’s primary surplus target, agreed with its creditors as part of its post-bailout deal.

The need to reduce country’s surplus target from the current 3.5 percent level as of 2021 was formally raised by Prime Minister Kyriakos Mitsotakis at the last European Union summit.

He has also discussed the issue in a meeting with new European Central Bank President Christine Lagarde, who is said to be sympathetic to Greece’s position.