The Ministry of National Economy and Finance launched an all-out offensive in response to the opposition’s allegations regarding the performance of the Greek market. The government responded with 20 indicators, aiming to counter the image of stagnation presented by the opposition and, at the same time, to demonstrate convergence with European benchmarks.
1. Growth. The first indicator concerns growth, specifically the rate of increase in Gross Domestic Product. The cumulative increase in GDP of 10.8%, at constant prices (adjusted for inflation), during the 2019–2025 period exceeded the Eurozone’s 6.5%. This growth rate led to the creation of 600,000 new jobs, cutting unemployment nearly in half—from 17.3% to 8.9%.
2. Recovery Fund. The actual amount of funding from the Recovery Fund, which drives investment and growth, has reached 36 billion euros.
3. Competitiveness. International indices show the country’s progress, with the Economist Intelligence Unit ranking Greece 34th in 2025, up from 61st in 2019. The widening trade deficit is attributed to imports of capital goods for investment, which are expected to reach 46.3 billion euros in 2026, accounting for 17.7% of GDP.
4. Surpluses. Fiscal results are supported by the broadening of the tax base and the crackdown on tax evasion, despite the implementation of 83 tax and contribution cuts. For 2026, the primary surplus is projected to decline to 3.2% of GDP, taking into account the new tax relief measures.
5. Tax evasion. VAT collection was bolstered by the reduction of the VAT gap (the difference between VAT collected and VAT that could have been collected). The VAT gap shrank to 9% from 24%. At the same time, real consumption rose by 15.1%, and tourism receipts increased by 30%.
6. Taxes. The increase in revenue reflects economic growth rather than new tax burdens. Tax rates have been reduced, social security contributions were cut by 5.4%, and the ENFIA property tax fell by 35%.
7. Debt. The fastest debt reduction in Europe has led to a 63-percentage-point decline over the past five years, securing investment-grade status. In nominal terms, debt is projected to fall to 357 billion euros in 2026 from 364 billion euros in 2021.
8. Liabilities. The government’s overdue debt includes €1.4 billion in periodic offsets for drug clawbacks and rebates. Net overdue debts stand at 1.9 billion euros, remaining stable compared to 2019, despite the significant increase in government spending.
9. Disposable income. Absolute poverty fell to 11.3% in 2025 from 17.9% in 2019, as the average annual household income rose to 21,724 euros. The rise in the relative poverty line to 11,700 euros reflects the general increase in wages.
10. Production model. The composition of GDP is changing, with investment reaching 17% in 2025. Exports of goods and services doubled to 40% of GDP, while the manufacturing sector is increasing its share of production.
11. Housing. Institutional protection for primary residences expired in 2019, with the current framework of the out-of-court mechanism providing solutions for debts exceeding 19 billion euros.
12. Private debt. Total private debt reflects healthy credit expansion, while the portion of debt past due declined by 13 percentage points to 57%. The debt-to-GDP ratio stands at 94.5%, lower than the European average of 121.4%.
13. Non-performing loans. Non-performing loans held by banks and servicers decreased in absolute terms by 27 billion euros, falling to 72.65 billion euros in the fourth quarter of 2025.
14. Tax Authority. Of the 114.2 billion euros in debts owed to the Independent Authority for Public Revenue (AADE), 30.7% has been classified as uncollectible. The number of debtors decreased by 77,000, with 75.5% of the debt concentrated among 0.27% of taxpayers.
15. Social Security. The 51.8 billion euros in debts owed to the EFKA primarily involve large-scale debtors with debts exceeding 100,000 euros. Of this amount, 21 billion euros consists of old surcharges, which can be settled in 72 installments.
16. Foreclosures. Property foreclosures account for 24% of completed auctions, while for residential properties specifically, the percentage drops to 10%, with primary residences falling well below that.
17. Repayment Plans. The out-of-court mechanism had secured 62,600 repayment plans for initial debts totaling 19.21 billion euros as of May. The year-over-year increase in results reached 700% compared to 2022.
18. Vulnerable Groups. Successful applications from vulnerable citizens totaled 7,182. At the same time, 560 cases were included in the interim program to freeze foreclosures with a government subsidy.
19. Convergence. Per capita GDP at constant prices rose by 12.7% in Greece during the 2019–2025 period, compared with just 4.5% in the Eurozone, confirming the trend toward convergence.
20. Wages. The minimum wage rose by 41.5% to 920 euros in 2026, and the average wage by 30%, exceeding the cumulative inflation rate of 19.4%. Total pension expenditures rose by 22%, reaching 35.7 billion euros.