Minister Giorgos Stathakis says that he is optimistic about the course of the economy

In his speech at the 1st Thessaloniki Summit, that has been organized by the Federation of Industries of Northern Greece (SBBE), in cooperation with the company “Symeon Tsomokos S.A.”, the Vice-Chairman and CEO of Hellas Gold, Mihalis Theodorakopoulos has mentioned the mining investment in Northeastern Chalkidiki and the benefits that will occur from its continuation. He said characteristically:

“The exploitation of the mineral resources of Northern Greece can act as a trigger for the reversal of the downward course of the economy. If only fifteen Eldorado companies invested in our country!”.

On the other hand, as we can read at, the Minister of Economy, Georgios Stathakis, mentioning the course of the economic indicators during the last three quarters, seemed optimistic and confirmed once again the forecast that the Greek economy will develop at a 2.5% – 3% rate in 2017, while expressing his belief that soon the inclusion in the quantitative easing program will be completed. Mr. Stathakis pointed out that:

“The second quarter of 2016 is the first quarter during which there was a positive sign compared to the immediately preceding one. There is the certainty that the same course will continue in the third quarter, with positive signs for the fourth quarter also. The image of three consecutive quarters with positive signs can be considered as a trend that gives now better prospects for the economy”.

Regarding the “red” loans, Mr. Stathakis noted that the banks have all the necessary tools to deal with this problem. He added that the goals have been set and are defined until 2019 and regard their decrease by 40% until the end of this period. “The problem of “red” loans seems to be, for the first time, in a context of stable management framework with a de-escalation perspective in the next four years” he added.

About the fiscal stabilization program, he pointed out that, based on the performance of 2015-2016, it is implemented and has results. “There are no deviations, it is a sound program of fiscal adjustment. There is a strong certainty that the basic goal for fiscal stabilization and fair allocation of tax burdens seems to progress exactly as it had been roughly planned” he said characteristically.

About the stability of the financial sector, he remarked that soon the inclusion in the quantitative easing program shall take place, “which represents the full return of the Greek banking system to regularity”.

About the reforms that regard the institutional operational framework of companies, the Minister remarked that “the government is very close to achieving its goal regarding the establishment of a company within only one day” and for companies for which there is no requirement of a notarial deed at the one stop centers. “The draft legislation is ready and it will be submitted within October. For this operation the chambers shall be competent”, he concluded.