PM highlights Greek economic progress, reform commitment
Prime Minister Kyriakos Mitsotakis stressed the recent progress made by the Greek economy and outlined his government’s priorities during a discussion via teleconference with JPMorgan Chase Chairman and CEO Jamie Dimon at an investment roadshow held in New York.
Reflecting on progress made since his New Democracy party came to power in 2019, Mitsotakis highlighted significant achievements in steering the national economy towards sustainable growth, while maintaining fiscal responsibility.
“We’ve done so also by changing the growth fabric of the economy. This is no longer an economy that is primarily still driven by consumption, but it is much more driven by investment-led growth,” Mitsotakis said. “And if you look at the jump in foreign direct investment over the past years, it has been remarkable,” he said.
The conservative premier noted the changing perception of Greece among foreign investors, citing increased interest across various sectors.
“I remember when I first went to Davos as a prime minister in 2020, it was difficult for me to pitch our growth story. Now it is obviously much easier, and there is a much greater interest by foreign investors across sectors to invest in Greece,” he said, attributing this positive shift to the administration’s commitment to practical solutions over ideological debates.
Expressing commitment to ongoing reforms, Mitsotakis outlined the need for continued work on competitiveness, improving the business environment, and justice reform, highlighting recent legislation aimed at streamlining court processes.
“I remain as committed to reforms as I was back in 2019. So my commitment is full throttle on reforms, but always focused on fiscal discipline,” he said.
“Complacency can be lethal. There could be nothing more dangerous for us saying, okay, we won a second term, we still have a huge lead in the polls, we’ve got investment grade, we can afford to take the foot off the gas pedal. I’m doing the exact opposite. I’m doing all the hard reforms now,” the premier said, adding that the government’s second term will primarily focus on real wage growth to address the ongoing cost of living crisis.
‘Impactful reforms’
In his comments Dimon, praised Greece’s economic performance while recognizing the growing interest from the international investor community.
“Greece has embraced a healthy path to economic growth, supported by sensible policies and impactful reforms, and has achieved an impressive drop in its debt to GDP ratio,” he said.
“The strong interest that you now see from the international investor community in Greek companies is a testament to the vibrancy of the private sector locally, and an important step in sustaining growth in the future,” he said.
