Six challenges for the Greek economy in 2024

The Greek economy’s six challenges in 2024 were the focus of an address by National Economy and Finance Minister Kostis Hatzidakis at an event on Monday, although he underlined that Greece has “turned the page.”

Addressing the 34th Greek Economic Summit (GES2023), organized by the American-Hellenic Chamber of Commerce, Hatzidakis said the challenges were as follows: maintaining resilience, with a mix of fiscal responsibility and development prospects; boosting competitiveness, as seen already in the sectors of pharmaceuticals, agrifood, and renewable energy sources, followed by accelerating the administration of justice and further upgrading public administration and the banking sector; extroversion, with a goal of exports reaching 60% of GDP by 2027 and 70% of GDP by 2030, and supporting businesses in their green transition; restricting tax evasion – its results so far have raised revenues from short-term rentals tenfold in the last 10 years; the more effective use of state-owned properties, including real estate, along the Greek coast and ski centers; and boosting citizens’ available income, especially in the context of high inflation.

“The plan is to make Greece resilient to crises. We will not allow progress achieved so far to go to waste,” Hatzidakis told the two-day GES2023 that concludes on Tuesday.