The government responds to the opposition on the economy with 20 indicators

Greece is moving closer to convergence with the rest of strong Europe, based on incomes and the productive model. What it says about private debt and settlements.

The government responds to the opposition on the economy with 20 indicators

This article is an AI translation of an original piece published in Greek. Read original

 The Ministry of National Economy and Finance launched a full-scale attack, responding to the opposition's claims about the course of the Greek market. The government responded with 20 indicators, aiming to overturn the image of stagnation presented by the opposition and, at the same time, to show convergence with European figures.

1. Growth. The first item concerns growth, that is, the rate of increase of Gross Domestic Product. The cumulative increase in GDP by 10.8%, at constant prices (without inflation), in the period 2019-2025 exceeded the Eurozone's 6.5%. This rate led to the creation of 600,000 new jobs, reducing unemployment by almost half, that is, to 8.9% from 17.3%.

2. Recovery Fund. The actual amount of resources from the Recovery Fund, which affects investments and growth, has risen to 36 billion euros.

3. Competitiveness. As regards international indicators, these record the country's rise, with the Economist Intelligence Unit placing Greece in 34th place in 2025 from 61st in 2019. The widened trade deficit is attributed to the import of capital goods for investments, 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 reductions in taxes and contributions. For 2026, the primary surplus is forecast to decline to 3.2% of GDP, incorporating the new relief measures.

5. Tax evasion. VAT collectability was strengthened by the reduction of the VAT gap (the difference between the VAT collected and what could have been collected). The VAT gap shrank to 9% from 24%. At the same time, real consumption increased by 15.1% and tourism receipts recorded a 30% rise.

6. Taxes. The increased revenues reflect economic growth and not new burdens. Tax rates have been reduced, social security contributions were cut by 5.4%, while ENFIA fell by 35%.

7. Debt. The fastest debt reduction in Europe led to a drop of 63 percentage points over the last five years, securing investment grade. In nominal terms, debt is decreasing to 357 billion euros in 2026 from 364 billion euros in 2021.

8. Liabilities. The footprint of the State's overdue debts includes 1.4 billion euros of periodic offsets for pharmaceutical clawback and rebate. Net overdue debts amount to 1.9 billion euros, stable compared with 2019, despite the large increase in state spending.

9. Disposable income. Absolute poverty fell to 11.3% in 2025 from 17.9% in 2019, as the average annual household income increased to 21,724 euros. The rise in the relative poverty threshold to 11,700 euros reflects the general increase in wages.

10. Productive model. The structure of GDP is changing, with investments reaching 17% in 2025. Exports of goods and services doubled to 40% of GDP, while manufacturing is strengthening its share in production.

11. Housing. Institutional protection of the primary residence ended 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 its overdue portion fell by 13 percentage points to 57%. The debt-to-GDP ratio stands at 94.5%, lower than the European average of 121.4%.

13. Red loans. Non-performing loans in banks and servicers were reduced in absolute terms by 27 billion euros, falling to 72.65 billion euros in the fourth quarter of 2025.

14. Tax office. Of the 114.2 billion euros of debts to AADE, 30.7% has been classified as uncollectible. The number of debtors decreased by 77,000, with 75.5% of the debt concentrated in 0.27% of tax identification numbers.

15. Insurance. Debts to EFKA amounting to 51.8 billion euros mainly concern major debtors with debts above 100,000 euros. The 21 billion euros constitute old surcharges, with the possibility of settlement in 72 installments.

16. Enforcement measures. Property awards account for 24% of completed auctions, while specifically for residences the percentage falls to 10%, with primary residences being much lower.

17. Settlements. The out-of-court mechanism has achieved 62,600 settlements for initial debts of 19.21 billion euros by May. The annual increase in results reached 700% compared with 2022.

18. Vulnerable. Successful applications by vulnerable citizens amounted to 7,182. At the same time, 560 cases were included in the interim program freezing auctions with state subsidy.

19. Convergence. Per capita GDP at constant prices recorded an increase of 12.7% in Greece in the period 2019-2025, compared with just 4.5% in the Eurozone, confirming the convergence trend.

20. Wages. The minimum wage increased by 41.5% to 920 euros in 2026 and the average wage by 30%, exceeding cumulative inflation of 19.4%. Total pension expenditure increased by 22%, reaching 35.7 billion euros.

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