‘Greece open for business,’ says PM’s chief economic adviser

Prime Minister Kyriakos Mitsotakis’ chief economic adviser, Alex Patelis, urged investors on Wednesday to “take advantage” of planned reforms, “ saying that Greece’s “economic policies face a subtle, but important, pivot.”

In a series of tweets outlining these changes, Patelis said that the government will continue to implement policies countering the impact of the coronavirus crisis, while also introducing important structural reforms to facilitate the creation of new jobs and investments.

“Ample fiscal space and monetary support should be used smartly, and not wasted on handouts or expanding the government footprint in the private sector,” he said.

Patelis outlined key points of the government’s economic policy platform as presented by Mitsotakis at the Thessaloniki International Fair over the weekend.

These include a reduction to social security contributions; a scheme for covering the contributions of the first 100,000 net new jobs created, with additional incentives for the hiring of long-term unemployed; and harmonizing labor laws with International Labor Organization best practices.

The government will also present a land-use planning bill setting clear rules for new edifices and simplifying licensing procedures, with an emphasis on renewable energy, while a new public procurement framework is also in the works, along with further digitization efforts of the state.

“We invite global investment to take advantage of our cyclical and structural reforms. Greece is open for business,” Patelis said.