Finance Minister Christos Staikouras assured investors participating in an online conference organized by Capital Link on Tuesday that the fact Greece enjoys fiscal flexibility does not mean there is no discipline.
The minister stressed that the government intends to put in place a safety net to protect the population from the consequences of the pandemic, as well as continuing its reform effort. He spoke of targeted support measures for those in real need, adding that the problem of the public debt is always there, but the debt is sustainable.
Staikouras noted that the government is banking on growth to improve the debt-to-GDP ratio; in this context it will try to narrow the investment gap with the assistance from the Next Generation EU fund, as well as improving the country’s production base.
The 22nd Capital Link Invest in Greece Forum, “Greece – Looking Ahead With Confidence,” which concludes on Wednesday, also heard a Standard & Poor’s representative argue that Greece’s fiscal record and economic recovery will count toward a possible upgrade, adding that the country’s reforms will become evident once the recovery takes hold.