NEWS

Mitsotakis says confident Greece will achieve 2020 budget targets

mitsotakis-says-confident-greece-will-achieve-2020-budget-targets

Greek Premier Kyriakos Mitsotakis expressed confidence on wednesday that Greece will meet its budget targets for 2020, adding that his government wants to turn the country into the eurozone's “success story” during his term.

“There is a sense of optimism around Greece” which allows the government to push its agenda “aggressively,” he said in an interview with Bloomberg. “ We have a clear plan. We want to reduce taxes, make it easier for international and domestic companies to invest, we want to solve our banking problem.”

He said the EU "needs to rethink some of the very tight rules" in its fiscal policy, adding that Greece will pursue an agenda that will restore the country's credibility and allow it to seek a lowering of its high primary surplus target.

“We've said from the start that these surpluses are remnants of the past when there was little confidence in Greece. We are now moving very quickly to restore that confidence…in the economy and the government, and discuss about reducing these surpluses in 2021, not necessarily from next year.”

“The fundamental logic of what we are proposing [reforms] was always what we were striving to achieve," he said, adding that once Greece delivers on its commitments, it will "only be reasonable" to request a more sensible target.

Asked about the recent uptick in migratory flows to Greece, Mitsotakis said EU-Turkey statement signed in 2016 to stem arrivals is a "win-win" agreement, provided that both sides deliver on their commitments.