Greek Finance Minister Kyriakos Pierrakakis said the government will move on three fronts in September, targeting household income, private debt and investment, in an interview with the newspaper Apogevmatini.
Pierrakakis said September was a month of major decisions for the economy and for citizens' daily lives, adding that the government understood where pressure points remained and could not respond with benefits policy alone. He said what was needed was a plan that supported income now, addressed debts inherited from the past and created more opportunities for the future.
Thessaloniki Fair measures
Pierrakakis pointed to the Thessaloniki International Fair as the first major milestone, where Prime Minister Kyriakos Mitsotakis is expected to present a package of measures for millions of citizens, including pensioners, self-employed professionals, workers and farmers. The goal, he said, is to ease family budgets, cut tax burdens and boost disposable income through permanent measures that remain within the real capacity of the economy. He said support for society is stronger when it rests on solid foundations.
The Thessaloniki International Fair, known in Greece as DEP, is the country's largest annual trade exhibition and has traditionally served as the venue where the Greek prime minister sets out the government's economic policy for the coming year.
Private debt and home protection from September 21
Pierrakakis said September would not stop at the fair. On the 21st of the month, he said, another significant measure of the government's private debt plan takes effect: protection of primary residences through the out-of-court debt settlement mechanism.
He said this comes on top of an existing 72-instalment repayment option, improvements to the out-of-court mechanism, an increase in the protected, unseizable bank account threshold, and other arrangements that give thousands of citizens the chance to deal with accumulated debts and regain control of their lives. He described tackling private debt as both an economic and a deeply social issue.
Push to attract investment funds
Pierrakakis said the government was also working to change Greece's position on the international financial map. He said a modern, competitive framework had been created so that international investment fund managers would choose Greece as a base for genuine operations, meaning organisations that post executives, open offices, bring in know-how and build up an ecosystem of legal, auditing, banking, consulting and technology services around them.
He said significant developments in that direction were expected in the coming weeks, which could mark Athens's entry into a market currently dominated by other international financial centres.
A common goal
Pierrakakis said the three priorities shared a common denominator: the citizen. He said the aim was for families to keep more money, for people carrying burdens from the past to be able to make a fresh start, and for investment that creates jobs and opportunities to come to Greece. Every step of economic progress, he said, should also be a step forward for people's lives.
