PM Mitsotakis: A plan with an ambition to change the country’s productive fabric, to set goals for the transformation of economy

The ‘Pissarides Commission’ on Tuesday presented to Prime Minister Kyriakos Mitsotakis its road map for the development of the Greek economy. In a teleconference, the Greek Premier said the report was “ a condensed plan with an ambition to change the country’s productive fabric and set goals for the transformation of the Greek economy”.

The main goal, he said, was to boost productivity, a systematic increase in exports, a closer interconnection of production with technology and innovation and supporting labor. He stressed that several of the report’s proposals were in line with the government’s actions already in place.

The teleconference underlined the need for the maximum possible social consensus, for a new contract between the political world, labor and production. The Prime Minister congratulated the members of the Commission, professors, Pissarides, Vettas, Vanianos and Menir for their excellent job.

In its 151 pages, the Development Plan envisages: supporting unemployed people to return to the labor market through integrating vocational training. To expand the maternal leave system to fathers as well. Offering tax incentives to households that invest, long-term, in Greek companies listed in the Athens Stock Exchange. Offering incentives for mergers and acquisitions with the aim to magnify Greek enterprises, promote scale economics and cooperation. Setting up specialized departments in courts to deal with cases of significant financial interest within 12 months.

The financial priorities of the plan include: boosting investments and exports as a percentage of GDP, strengthening wage labor and reducing informal economy, investing in education and knowledge, raising the size of Greek enterprises, promoting cutting-edge technology, innovation and digitalization, achieving ambitious environmental goals and supporting weak households.

The professors who drafted the report also recommend: reducing tax burdens on wage labor, speeding up amortizations and lowering energy cost in manufacturing, supporting research in universities, incentives to boost innovation. Radical upgrading of vocational training for unemployed and employed people. Introducing a capitalized system in the second pylon of social insurance. Creating specialized departments in courts to deal with cases of significant financial interest. Continuing a digital reform of the public sector. Modernizing the system of financial supervision to protect investors. Modernizing education in all grades. Restructuring of the health system. Gradual return of real estate tax money to local level. Energy upgrading of buildings. Turn to renewable energy sources. Development of infrastructure.

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