Greece’s 85th Thessaloniki International Fair will conclude today.
This year’s Fair—the main platform for Greece to air out its new economic policy and plans—is dedicated to Greece’s past, present and future.
During opening remarks, Prime Minister Kyriakos Mitsotakis laid out a new 2021 growth target for Greece of 5.9%, up from 3.6%. To fuel this growth, he will enact a series of measures to stimulate recovery from COVID-19, employ the youth, and accelerate a Greek transition to a digital and green economy.
Mitsotakis’ planned Greek economic revolution requires funds to work, but the country is coming out of a decades-long debt crisis capped by the COVID-19 pandemic. Earlier this year, Greece’s Recovery and Resilience Plan gained the support of the European Union, securing $20.8 billion in grants and $14.9 billion in loans from 2021-2026. Using these funds Greece will likely be able to close some of the gaps that brought about the debt crisis but will need to effectively engage the youth to remodel business norms. Medium-term, expect Greece to invest heavily in digital technology and green technology, jumpstarting the transition of its economic model.
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