Greece Updates Its Economic Policy Aimed To Empower Business Growth

Greek Prime Minister Kyriakos Mitsotakis has unveiled the government's updated economic policy for the next few months, promising a new model of development that will be beneficial for all.

"Greece is changing" was the main slogan this year during the customary keynote economic policy speech at the 85th Thessaloniki International Fair (TIF), the country's largest annual trade fair held in the port city of Thessaloniki.

Voicing optimism about the prospects of the Greek economy, Mitsotakis said on Saturday night that the growth target for 2021 is revised to 5.9 per cent from 3.6 per cent.

The Greek leader announced a series of measures aimed to alleviate the pressures from the Covid-19 pandemic and reforms to boost growth.

The program includes new tax cuts, an extension of benefits, reductions in social security contributions and reforms to further support investments, employment, exports, extroversion, digital transition and green economy.

"Today starts a new, exciting journey that we will all make together putting into practice the motto of this year's exhibition: For a homeland that has knowledge and courage, for a brave Greece that moves forward and looks only up," he said, addressing the opening ceremony at the TIF, which is scheduled to run from September 11 to 19.

The relief measures include tax cuts for households and businesses, such as reduced real estate property taxes and a decrease in corporate tax rate from 24 per cent to 22 per cent.

In addition, Mitsotakis pledged support amidst price hikes in energy costs, measures to strengthen the education and health sectors, while emphasis was also given on policies to support the youth.

Regarding the ongoing battle against Covid-19, the Prime Minister reiterated a call to those who are still unvaccinated to get inoculated to help end the pandemic.