Kyriakos Pierrakakis predicted a debt, 2% growth and new interventions for accuracy and private debt by 2030.
The Minister of National Economy and Finance Kyriakos Pierrakakis, speaking at Nikos Hadjinikolaou’s “Greece 2030” conference, argued that the Greek economy is on a path of continuous improvement, estimating that by 2027 Greece will no longer be the most indebted country in Europe. At the same time, he highlighted tackling inaccuracy, supporting disposable income and changing the country’s production model as key priorities.
Pierrakakis for less supervision and more confidence
Referring to the decision of the European Commission to remove Greece from the list of countries with macroeconomic imbalances, the minister referred to the closing of a 16-year cycle that included memoranda, enhanced surveillance and strict monitoring of the economy.
As he noted, this translates into greater confidence, lower borrowing costs and better conditions for investment and exports, elements that boost overall economic activity.
As for the new European escape clause on energy, he clarified that it mainly concerns green investments and not direct measures to support households or businesses, He added that further European reaction would depend on the evolution of the crisis in the Middle EastMiddle East.
Growth, investment and the production model
Mr. Pierrakakis attributed the 2% growth in the first quarter of 2026 to an increase in investment, exports, but also to the reduction of the tax burden on citizens through the measures announced at the GFC.
He said Greece is still growing at more than twice the European average, while the change in the production model is underway. He recalled that investment as a percentage of GDP has increased from around 11% in 2019 to 17%-18% today, while exports have increased from 20% of GDP in 2009 have exceeded 40%, gradually approaching the European average.
At the same time, he stressed that the country now has political stability, high primary surpluses, a rapidly declining public debt and more than 500.000 new jobs from 2019 to date.
Accuracy, private debt and the 2030 bet
On the issue of accuracy, the minister acknowledged that it is the biggest problem for Greek households and for Europe as a whole. He stressed that the government’s strategy is based on two axes: price containment through targeted interventions and the strengthening of disposable income.
Referring to private debt, he described the recent package of interventions as the largest and most comprehensive package of measures since the crisis period. These initiatives include raising the foreclosure threshold to 1.600 euros, the 72 instalments, the extension of the extralegal mechanism and the activation of the new body for the protection of first home.
In conclusion. Pierrakakis argued that the most important reform for the next five years is the completion of the digitalization of the state using artificial intelligence, as it can dramatically improve productivity, justice and service to citizens.
A key goal for 2030, he described the transition to a more externalized economy, with stronger investment, more exports and a new culture of continuous reform. As he said, the big qualitative change will be a Greece that “produces, exports and opens up to the world“, and he estimated that it is already close to this transition.
