An article in the German newspaper FAZ reports that the Greek economy is doing amazingly well, and that this is not only due to the tourism boom, but also to the fact that market confidence has been restored, emphasizing that this is not only due to the tourism boom, but also to the fact that market confidence has been restored.
According to FAZ, international rating agencies consider Greece to be an investment destination once again. Microsoft, Google, and Pfizer have established themselves here in recent years, while German companies such as Fraport, RWE, Boehringer Ingelheim, and Teamviewer are also active in Greece. Specifically, as announced by the Ministry of National Economy and Finance, the story states, among other things, that while the economies of other EU member states are in recession, Greece is facing a "luxury problem." In the 2025 budget, more than double the initially projected amount of money is available. Correspondingly, the spending plan must also be updated upwards. According to FAZ, the state budget was approved by the Parliament on Sunday evening and the conservative PM Kyriakos Mitsotakis told the MPs that the important thing is for the economic success to be more strongly felt by the citizens. Finance Minister Kostis Hatzidakis initially expected a surplus of 6.1 billion euros in his draft budget. Now it amounts to 13.5 billion euros. According to Greek economic analysts, this is certainly due to the fact that Hatzidakis managed the country's economy prudently. However, there are other significant reasons for this unexpected outcome. As the FAZ points out, the fight against tax evasion is bearing fruit, and the minimum wage will increase to 950 euros. It also states that unemployment is expected to fall below 10% next year - down from over 40% at the peak of the crisis. According to FAZ, Greece is also servicing its debts like a model student: loans from international creditors are being serviced, and Athens has even repaid the crisis loan from the International Monetary Fund (IMF) ahead of schedule. The public debt ratio is expected to decrease to 147% by 2025, whereas two years ago it was 164%.