National Economy and Finance Minister Kostis Hatzidakis participated in the recent Eurogroup and ECOFIN meetings in Brussels.
During the ECOFIN meeting, the ministers approved the revised National Plans submitted by Greece, Cyprus and Spain within the framework of the Recovery Fund.
The revision of the Greek plan includes:
The “My Home 2” program for the purchase of a first residence, with a subsidized interest rate.
The “Upgrading My Home” program for the energy upgrading of homes.
The program to finance 37,000 afternoon surgeries, in order to reduce waiting lists in the country’s hospitals.
Minor amendments to the description of certain actions and milestones of the 5th payment request, which was submitted by Greece on December 20.
The Ministry of Finance pointed out that this request concerns the disbursement of resources amounting to 3.13 billion euros (1.35 billion from grants and 1.78 billion from loans), while upon the successful completion of the process, which is expected in the near future, the total disbursements to Greece will reach 21.3 billion euros, corresponding to 64% of the total resources allocated to it.
The Council also approved the recommendations of the European Commission on the medium-term fiscal structural plans for 21 Member States, including Greece, as well as recommendations, within the framework of the excessive deficit procedure, for eight Member States (Belgium, France, Hungary, Italy, Malta, Poland, Romania and Slovakia). It is recalled that the medium-term program submitted by our country provides for an increase in net primary expenditure by 3.7 billion euros for 2025, however – as emphasized by the Ministry of Finance – “the fact that Greece will probably exceed the targets for 2024 creates conditions for further positive initiatives, especially tax reductions, which will be announced by the Prime Minister in the autumn.”
Hatzidakis: Two positive news
National Economy and Finance Minister Hatzidakis stated: “For Greece, two positive news emerge from the ECOFIN meeting. The approval of the country’s Medium-Term Fiscal Structural Program confirms once again that Europeans see the Greek economy with confidence. Based on fiscal prudence and a pro-investment policy, Greece has all the conditions to rise even higher. On the other hand, the approval of the amendments to the Recovery Fund allows programs such as ‘My Home II’’, for which we negotiated hard, to proceed quickly. In a very short period of time, the absorption of the Recovery Fund will have reached 64%.”
