Greek Fin Min: There is an overperformance of the budget because there is also an overperformance of the Greek economy

A message that “there is an overperformance of the budget because there is also an overperformance of the Greek economy”, sent the Minister of National Economy and Finance Kostis Hatzidakis, on the occasion of the submission of the draft state budget for 2024 today in Parliament.

Mr. Hatzidakis said: “There is an overperformance of the budget because there is also an overperformance of the Greek economy. Our economy is doing well. This development is recognized by international organizations. And we see that in 2023 precisely for this reason, despite the fact that it was an election year, despite the fact that we were hit by unprecedented natural disasters, our budget endured. We fulfilled all our pre-election commitments. We will fulfill all our commitments in 2024 as well, continuing the same mix of economic policy: Economic seriousness with social sensitivity.”

Deputy Fin Min Petralias: The 2024 budget reflects economic stability and progress

For his part, Mr. Petralias said: “A few minutes ago, the draft of the 2024 Budget was submitted to the Economic Affairs Committee of the Parliament.

The Budget includes all the measures announced before the election to be implemented in 2023, as well as the additional measures announced at the TIF to support income, proving the consistency of words and actions.

At the same time, the Budget includes the necessary funds for the compensation of those affected by the recent natural disasters, but also permanent appropriations for dealing with future natural disasters.

Based on the latest State Budget execution data, it appears that we are achieving the target of a primary surplus of 1.1% this year and 2.1% next year, which was set in the Stability Programme, despite the exceptional expenditure on natural disasters.

An important role was played in this by the latest Budget execution data, which shows an upward trend in income categories linked to salary increases, but also by the fact that a significant part of the costs from natural disaster recovery costs will be covered by the current NSRF and the Recovery Fund, following the flexibility shown by the European Commission.

The fact that the fiscal result of the years 2023 and 2024 remains within the estimates that were reflected in the Stability Program, strengthens the credibility of the country’s debt in view of the upcoming assessments.

A particularly important development in this context is the estimated de-escalation of debt from 171.4% of GDP in 2022 to 159.3% in 2023.

We continue to implement the program for which the citizens elected the Government, now implementing the Great Changes that the country needs. Changes in the field of tax evasion, in shielding the country against the economic consequences of climate change, in strengthening health, but also in society’s basic mandate to increase disposable income.

A prerequisite for the implementation of the above measures for the benefit of the citizens is the observance of the fiscal targets. This is exactly what the 2024 Budget reflects, that is, economic stability and progress, while distributing limited fiscal resources with the greatest possible economic and social efficiency and justice.”