{"id":3607,"date":"2026-05-02T08:45:00","date_gmt":"2026-05-02T05:45:00","guid":{"rendered":"https:\/\/en.tomanifesto.gr\/?p=3607"},"modified":"2026-05-02T08:45:00","modified_gmt":"2026-05-02T05:45:00","slug":"reforms-for-growth-how-productivity-will-lead-to-better-incomes","status":"publish","type":"post","link":"https:\/\/en.tomanifesto.gr\/?p=3607","title":{"rendered":"Reforms for growth: how productivity will lead to better incomes"},"content":{"rendered":"

A new direction for the economy is being charted by the reforms for the period 2028-2034, with the key objective of transforming growth into a substantial increase in wages<\/strong> and living standards<\/strong>. <\/p>\n

The plan shifts from fiscal stability to boosting productivity<\/strong>, through a grid of interventions that prioritises the diffusion of technology<\/strong> and innovation throughout the economy. <\/p>\n

Despite the significant deceleration of unemployment<\/strong>, from 18% in 2019 to around 8% today, and the improving fiscal and banking picture, the Greek economy is still lagging behind. The labor productivity<\/strong> is hovering at just 64% of the OECD average, which explains why growth is not passing through to incomes with the same intensity. This is the gap that the new strategy seeks to fill. <\/p>\n

The plan was presented at the Delphi Economic Forum<\/b> by Kostis Hatzidakis<\/b> and Matias Corman<\/b> and is the roadmap for the next decade. It foresees close cooperation with the OECD,<\/b> the Bank of Greece<\/b> and the IOBE<\/b> to formulate an integrated economic<\/strong> and social policy<\/strong>, combining development<\/b> with a more equitable distribution of benefits. <\/p>\n

The focus is on small and medium-sized enterprises<\/strong>, which employ around 85% of workers. Their productivity is boosted through the diffusion of digital tools, modern organisational practices and better access to financing<\/strong>. <\/p>\n

“So far we have emphasized fiscal seriousness and pro-investment policies. Now we will combine productivity growth with the distribution of wealth and growth in a socially just manner,” the Deputy Prime Minister said, announcing cooperation with the OECD, the Bank of Greece and IOBE on the new plan for economic and social policy making in the country. <\/p>\n

“The project,” Kostis Hatzidakis said, “will concern the economic and social agenda for the period 2028 – 2034. This is the best way forward. Governments have their own ideological and political philosophy, but best international practices must always be taken into account”, said Kostis Hatzidakis. <\/p>\n

The grid of interventions extends beyond technology. It includes improving the functioning of justice<\/strong>, strengthening material investments<\/strong>, addressing demographic pressures<\/strong> and completing the framework for digitalisation<\/strong> and competitiveness<\/strong>. The aim is to create a solid basis for an economy that produces more value and distributes it more efficiently. <\/p>\n

Special emphasis is also placed on skills<\/strong> of human resources. The digital transformation<\/strong> and artificial intelligence<\/strong> are already changing the requirements of the labour market, making it necessary to continuously upgrade training<\/strong>. Productivity gains will come not only from capital and investment, but also from workers who can make effective use of new tools. <\/p>\n

This plan attempts to fill the gap of the past decade and mark the transition to a more resilient growth model. As pointed out by Matthias Corman, these interventions do not constitute a new austerity programme, but a package of actions with a direct impact on the real economy. For his part, Kostis Hatzidakis stressed that the country is now moving from the stabilisation phase to that of developmental upgrading<\/strong>. <\/p>\n

The key objectives also include the linking of research<\/strong> with production and the completion of spatial planning<\/strong>, the mobilisation of the Greek dispersion<\/strong>, the strengthening of regional development<\/strong> and the more effective use of European resources<\/strong>. The stakes are that growth is deep and lasting, translating into higher wages and better prospects for society. <\/p>\n","protected":false},"excerpt":{"rendered":"

\n A new direction for the economy is set out in the reform plan for the period 2028-2034, with the key objective of turning growth into …<\/p>\n","protected":false},"author":1,"featured_media":3608,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[],"class_list":["post-3607","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy"],"acf":[],"_links":{"self":[{"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/posts\/3607","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3607"}],"version-history":[{"count":0,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/posts\/3607\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/media\/3608"}],"wp:attachment":[{"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3607"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3607"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3607"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}