Whether you like Kyriakos Mitsotakis or not, you and we all have to acknowledge that on the economics level he is doing extremely well, as he has increased state revenues in various ways, and has filled the coffers.
In fact, as I write this article, it has already been pre-announced that with the presentation of the surpluses a very significant fund will be allocated to measures that will provide relief to more vulnerable citizens and beyond.
Kyriakos Mitsotakis has received a country tied to amnesties, trapped in the super fund and with no real asset room for growth. An economy that just a few years ago had experienced bank closures and unprecedented uncertainty. In less than seven years, it managed not only to stabilize the fiscal path, but also to lead the country into early repayment of debt obligations, even future ones, saving significant interest for future generations.
At the same time, it restored the confidence of foreign investors, bringing in capital that translated into new jobs and a substantial reduction in unemployment. Today, especially in major urban centres, the labour market seems to be facing a shortage of workers, while unemployment rates are down by more than 50% compared to seven years ago.
However, the big gamble remains the daily lives of citizens. Accuracy, compounded by exogenous crises such as the war in Ukraine, the energy crisis and tensions in the Persian Gulf, is putting particular pressure on low and middle incomes. More targeted and bold measures are needed to ensure that economic progress is meaningfully reflected in society, and this should be the stakes of the day ahead.
