ECONOMY

About 10 bln euros to be disbursed for Greek economy, says minister

About 10 bln euros to be disbursed for Greek economy, says minister

Finance Minister Christos Staikouras said on Monday the government will disburse around 10 billion euros in the domestic market in the next few months in support measures to deal with the consequences of the pandemic.

Speaking to radio station Real FM, he warned however that "the longer the crisis lasts on a global, European and national level, the more difficult the task will be to achieve the goals of the previous period in such a short period of time."

Staikouras said that the economic recession in Greece does not have the intensity of that in other countries and that the Greek economy had solid foundations that kept the economy going in the past few months.

Concerning the impact on tourism, he said so far evidence points to the basic scenario. "Travel revenue was 680 million euros in the first half, 800 million in July and around 1.5 billion euros in August. This means that there are enough revenues from tourism," he said.

State budget revenues were up compared with initial targets and "based on current data we stick to our forecast for an 8.0 pct economic recession this year." he added.