According to a statement by the finance minister, Kostis Hatzidakis, to Reuters, the Greek government intends to complete the divestment from the banks by the end of 2023 and record record revenues from privatizations.
The country is back on investors’ radar following regaining investment grade, with its economy growing at multiple times the eurozone average.
In the previous months, it sold all its shares in three major banks, which it holds through the Financial Stability Fund, raising more than 2 billion euros. It still holds 18.4% in National Bank and 72% in the smaller Attica Bank, which will be sold in the coming months.
“Based on the agreement we have with the lenders, we can continue the divestment process until the end of 2025. We find that we have no reason to delay,” said Mr. Hatzidakis.
“We’ve had very significant interest from many investors and that’s why we want to complete this process by the end of the year,” he added.
“We are determined to continue, more or less, in the same way by moving forward with all the necessary structural reforms while sending the message that this country is a friendly country for investment,” Hatzidakis said.
He added that the government expects 7.1 billion euros in revenue from privatizations implemented or completed in the past eight months, easily meeting the 2024 revenue target of 5.7 billion euros.
“It is unprecedented for Greece, not only the number of privatizations, but also the revenues for the state.”
Greece collected 790 million euros from the disposal of 30% of Athens International Airport last month and expects revenues of 4.6 billion euros from the Egnatia and Attica Road concessions.
Economic growth came in at 2% last year, slightly below the government’s forecast, compared with a 0.4% euro zone average. It is expected at 2.9% this year thanks to increased tourism receipts, stronger investment and strong domestic demand.
“The Greek economy was, is and will be a positive surprise for Europe,” Hatzidakis said.
He added that he wants to attract more investment in the green energy, logistics and tourism sectors to close the gap with the rest of the eurozone.
According to the protothema, referring to the issue of the Golden Visa, the minister said that the limit will be increased for foreign investors to 800,000 euros, from 500,000 euros, for large cities and popular islands, to 400,000 for other regions, while it will be set in 250,000 for the monuments.
“A relevant amendment will be submitted to parliament probably by the end of this week.”
Regarding the increase in the basic salary, he said that it will increase to more than 800 euros without giving more details.
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