Valdis Dobrovskis: Greece among the strongest performing economies in the EU

As he underlined, the Greece is now among the strongest performing economies in the European Union, attributing this development to the implementation of significant reforms and investments in recent years.

Special mention was made of the 7th disbursement of €1.18 billion from the Recovery Fund, which further strengthens financing of the Greek economy.

In his remarks following his meeting on Thursday afternoon in Athens with Kyriakos Pierrakakis and the political leadership of the ministry’s National Economy and Finance, the vice-president of the Commission stressed that “the conflict in the Middle East is casting its shadow, sending energy prices soaring across Europe and the world”.

He pointed to “a real risk of stagflation in the short term”, stressing that “our response, in addition to short-term measures, must be to continue hard work for a more competitive and resilient European economy“.

In this context, as Valdis Dombrovskis underlined, “we can all learn something from Greece’s decisive reform efforts over the last decade. They laid the foundations for sustainable recovery, so today Greece is among the strongest performing economies in the EU. As a result, the Greek economy has grow, while public debt and unemployment have fallen“.

He noted, however, that “of course, much remains to be done” and that reforms that can help maintain positive momentum were discussed, such as interventions for the business environment, public administration and the judicial system, as well as investments in energy efficiency, electrical interconnections and digital skills.

“As we approach the final straight for the TDCA, Greece must remain fully focused on accelerating the implementation of the plan,” he said. “We have only four months left and we have discussed how to ensure timely implementation of all resources. It is vital that the project reaches its full potential.”

From a fiscal perspective, he welcomed the fact that “Greece maintains a stable fiscal position and that the 2025 results are more positive than expected“. He said fiscal consolidation is based on strong revenue growth, through measures to combat tax evasion and undeclared work.

In conclusion, Mr. Dombrovskis underlined the contribution of Kyriakos Pierrakakis, in his capacity as President of the Eurogroup, to important initiatives on the international role of the euro, the digital euro and the combining savings and investment. “We are moving in the same direction … I look forward to continuing to work closely with you in the years ahead,” he said.

From the Greek side, Kyriakos Pierrakakis spoke of an economy growing at about twice the European average, achieving stable surpluses and recording the largest deceleration of public debt in Europe, with unemployment near historic lows. This performance creates additional fiscal space, which is being used for targeted support interventions, totalling €800 million, focusing on families, renters, pensioners and vulnerable citizens.

At the same time, Deputy Minister of National Economy and Finance Nikos Papathanasis emphasized the full utilization of European funds, stressing that the main goal is not to lose a single euro of the available funds, with the acceleration of the Recovery Fund projects and keeping Greece in the top positions in the absorption of NSRF funds.