With the participation of the Minister of National Economy and Finance, Mr. Kyriakos Pierrakakis, the meeting of the Board of Directors of the Athens Chamber of Commerce and Industry was held.
At the center of the discussion were the government's recent economic announcements, the challenges faced by businesses, as well as the prerequisites for changing the country's productive model, with emphasis on the financing of small and medium-sized enterprises, private debt, energy and non-wage costs, and the day after the completion of the Recovery Fund.
The Minister of National Economy and Finance, Mr. Kyriakos Pierrakakis, stated in his remarks: “Politics has value when it withstands the criticism of those who produce. Today, and through my role, however, I should underline and substantiate that what we are doing is exhausting all possibilities of supporting businesses, that is, all the possibilities that economic reality allows us.
I absolutely agree with you: all parties must submit their programs to the Fiscal Council, so that we can truly see what the available space is and what the discussion is on the basis of reality.
You know, I think that an entrepreneur knows better than most what the limits of reality are. And we, as a political camp and as a government, do not make hollow promises. Not to mention, moreover, how decisively and generously our businesses were supported by the Greek state during the difficult period of the pandemic.
I also want to say that priority for entrepreneurship for us is clear and is at the core of our program, it is not something that started today. It has been a steady choice since 2019. It is reflected in specific decisions. We have made 23 specific interventions for businesses, investments and competitiveness.”
For his part, the President of ACCI, Mr. Giannis Bratakos, addressing the Minister, noted: “Mr. Minister, you are a man of the market. Very experienced, politically, and you can recognize the difficulties and concerns of the business community. For us, it is fortunate that you are in the position of Minister of National Economy and Finance”. At the same time, he acknowledged that the TIF announcements include positive interventions, stressing, however, that the country now needs a specific and implementable plan to increase the wealth it produces.
As he stressed, “the country cannot be limited to a discussion about how it will distribute what it already has. It must finally discuss how it will produce more,” pointing out that the goals for more investments, a stronger industry, an increase in exports and productivity are in the right direction, but must be accompanied by specific reforms, financial resources, timetables and measurable results.
The President of ACCI described the abolition of the business tax and the reduction of the tax prepayment as positive, noting, however, that the projected timetable does not correspond to the current needs of the market. Especially regarding the tax prepayment, he underlined that maintaining it at high levels ties up valuable liquidity that could be directed to investments, hiring and working capital, calling for faster implementation of its reduction.
He placed particular emphasis on the access of small and medium-sized enterprises to financing. He described the new financing and guarantee tools through the Hellenic Development Bank as important, noting that their success will be judged by the extent to which the resources actually reach small businesses and are not limited to those already bankable. “Financing must reach the real economy,” he stated characteristically.
At the same time, he reiterated ACCI’s proposal for a functional arrangement of up to 120 installments for tax and insurance debts, as well as for the possibility of reintegrating businesses that lost previous arrangements, limiting surcharges and improving the out-of-court mechanism. As he pointed out, there can be no discussion of new financing when a significant part of the market remains excluded from it because of old debts.
Finally, the President of ACCI underlined that the main challenge for the Greek economy remains the change of the productive model, with more productive investments, a stronger industry, greater exports and larger-scale businesses. In this context, he called for stable incentives for investments, mergers and partnerships, simpler licensing, faster delivery of justice and, above all, a clear plan for financing the economy after the Recovery Fund.
In closing, Mr. Bratakos noted: “The critical question of the next period is not who will promise the most. It is who has the most serious and implementable plan for the country to produce more. Before we decide how to distribute wealth, we must explain honestly how we will create it”.