The country is back on investors’ radar after regaining investment grade, with its economy growing at multiple times the eurozone average.
In the previous months it sold all its shares in three major banks, which it holds through the Financial Stability Fund, raising more than 2 billion euros. It still holds 18.4% in National Bank and 72% in the smaller Attica Bank, which will be sold in the coming months.
“Based on the agreement we have with the lenders, we can continue the disinvestment process until the end of 2025. We find that we have no reason to delay,” said Mr. Hatzidakis. “We’ve had very significant interest from many investors and that’s why we want to complete this process by the end of the year,” he added.
Since 2019, when the New Republic came to power, large multinational companies such as Pfizer, Google and JP Morgan started investing in the country. After her re-election to the government of the country in 2023 and the recovery of the investment grade, she began the disinvestment in the banks.
“We are determined to continue, more or less, in the same way by moving forward with all the necessary structural reforms, sending the message that this country is a friendly country for investment,” said Mr Hatzidakis.
He added that the government expects 7.1 billion euros in revenue from privatizations implemented or completed in the past eight months, easily meeting the 2024 revenue target of 5.7 billion euros.
“It is unprecedented for Greece, not only the number of privatizations, but also the revenues for the state.”
Greece collected 790 million euros from the disposal of 30% of Athens International Airport last month and expects revenues of 4.6 billion euros from the concessions of Egnatia and Attica Odos.
Economic growth came in at 2% last year, slightly below the government’s forecast, compared with a 0.4% euro zone average. It is expected at 2.9% this year thanks to increased tourism receipts, stronger investment and strong domestic demand.
“The Greek economy was, is and will be a positive surprise for Europe,” said Kostis Hatzidakis.
He added that the government wants to attract more investment in the green energy, logistics and tourism sectors to close the gap with the rest of the eurozone.
Referring to the issue of the Golden Visa, the minister said that the limit will be increased for foreign investors to 800,000 euros, from 500,000 euros, for large cities and popular islands, to 400,000 for other areas, while it will be set at 250,000 for conservation areas.
“A relevant amendment will be submitted to parliament probably by the end of this week,” he said.
Regarding the increase in the basic salary, he said that it will increase by more than 800 euros without giving more details.
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