Pierrakakis to Japanese Nikkei: “The recovery phase is over - We have entered a growth phase”

The article refers to the credibility that Greece has regained after the financial crisis and to a series of foreign investments made in recent years by technology giants.

The Finance Minister stressed that fiscal consolidation is progressing steadily, predicting that the debt-to-GDP ratio will decrease by 7.7 percentage points from 2025, to 138.2% by 2026. “Efforts to reduce debt will continue in order to achieve sustainable growth,” he noted.

Investments from Big Tech in Greece
He also highlighted the ability to combat tax evasion through digital technology as a factor behind the fiscal recovery. The minister expressed the intention to promote digital transformation, including the future use of Artificial Intelligence.

Digitalization has led to investments from Big Tech companies, Mr. Pierrakakis stressed. He even argued that since 2019, the Mitsotakis government’s policy of prioritizing cloud-based builds for government and municipal operating systems “has increased interest from (American) companies such as Microsoft, Amazon and Google.”

Regarding future challenges, he stressed the need to improve productivity, stating that expanding the use of digital technology would also be a means to achieve this goal.

Regarding the brain drain that occurred during the financial crisis, Mr. Pierrakakis appeared optimistic. “Greece is a place where people can utilize their professional potential,” he said, addressing the Greeks who continue to work abroad.