The Eurogroup noted that despite the pandemic, Greece is showing clear progress in reform.
At yesterday’s meeting in Luxembourg of Eurozone finance ministers, Eurogroup President Pascal Donahue said that “strong signs of economic recovery” were facilitated by its gradual opening and a successful tourist season, despite the difficulties associated with the pandemic.
Paolo Gentiloni, Economic Commissioner, stressed during a press conference that Greece is showing clear signs of economic recovery, despite the catastrophic fires that hit the country in August. He also noted that Greece has fulfilled specific obligations, including in the areas of tax administration, privatization, education and public administration.
Mr. Gentiloni announced that in the context of the 12th report, even more progress is expected this month, mainly in the areas of justice, primary health care, and arrears.
Klaus Regling, head of the European Stability Mechanism, drew attention to the fact that the recovery of the Greek economy is much higher than forecast, adding that it will not be at all surprised if the growth rate of the Greek economy reaches 6% of GDP in 2021.
He pointed to the progress made by Greece in reforms, but noted that it is important to make even more efforts in the area of arrears. Noting that the level of public debt today is higher than before the pandemic, which is justified by the need in the current environment, Mr. Regling drew attention to the importance of careful and constant monitoring of this indicator.