The 2025 State Budget and the bill for railway reforms were among the measures approved during Monday’s cabinet chaired by Prime Minister Kyriakos Mitsotakis, ANA reports.
Greek Minister of National Economy and Finance Konstantinos Hatzidakis and Deputy Minister Athanasios Petralias presented the 2025 State Budget. According to government officials, the budget combines fiscal prudence with growth. They noted that Greece’s growth rates significantly outpace those of the EU and the eurozone, with forecasts of 2.3% for 2023, 2.2% for 2024, and 2.3% for 2025, compared to respective rates of 0.4%, 0.9%, and 1.5% for the EU.
Greece is forecast to achieve a primary surplus of 2.5% of GDP in 2024, exceeding budget targets, and 2.4% in 2025. Officials emphasized that these results have been achieved not through tax hikes but via systematic tax reductions. Eurostat data corroborates this, showing Greece had the largest tax-to-GDP reduction among EU members in 2023, with the ratio dropping from 42.8% in 2022 to 40.7% in 2023.
“ We cut 50 taxes during our first term, 10 more in the first year after the 2023 elections, and will reduce another 12 taxes in 2025, alongside 12 salary increases,” Hatzidakis noted during the budget presentation.
The pro-investment policy continues to yield results, Hatzidakis continued. From 2019 to 2024, exports rose by 44%, doubling as a percentage of GDP compared to 2008. High-tech exports now constitute a larger share of total goods exports. Investments at current prices grew by 84%, the highest increase among EU countries.
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