At a critical juncture for the Greek economy, Minister of National Economy and Finance Kyriakos Pierrakakis outlined the roadmap for the next two years during his speech at the 24th CFO Forum. As we navigate June 2026, Greece stands on the threshold of completing the funding cycles from the Recovery and Resilience Facility (RRF), making it imperative to establish a new, sustainable growth model that does not rely solely on European resources.

The Digital Lever and Tax Relief

Minister Pierrakakis inextricably linked the success of fiscal policy with digital reform. According to the Minister, the fight against tax evasion—facilitated by the full integration of POS terminals with cash registers and the expansion of electronic invoicing (MyData)—has created additional "fiscal space." This surplus is planned to be returned to society and businesses through targeted tax relief measures.

  • A further reduction in social security contributions by one percentage point within 2027.
  • The gradual abolition of the vocational tax (telos epitideumatos) for all self-employed professionals.
  • Reviewing a new reduction in the corporate tax rate to bolster international competitiveness.

"Taxation should not be punitive; it should be an incentive for transparency," the Minister emphasized, highlighting that broadening the tax base allows for the reduction of burdens on compliant taxpayers.

The Challenge of Private Debt

One of the most thorny issues addressed by Pierrakakis is private debt, which remains a drag on thousands of households and businesses. Despite progress made through the Out-of-Court Settlement Mechanism, the government is moving toward new interventions to facilitate restructuring, especially for "vulnerable" debtors. The strategy includes tightening rules for credit servicers, ensuring greater transparency and faster response times to citizen requests.

"Private debt is not just an economic figure; it is a social issue. Our goal is to provide a second chance to those who truly deserve it, while simultaneously isolating strategic defaultors," he noted.

The Day After the Recovery Fund

With 2026 serving as the milestone for completing RRF projects, discussions at the CFO Forum turned to what comes next. Pierrakakis was clear: Greece must transition from a consumption-based economy to one driven by investments and exports. Attracting Foreign Direct Investment (FDI) remains a top priority, with a focus on technology, green energy, and logistics.

Geopolitical turbulence in the wider Eastern Mediterranean region and Ukraine creates an environment of uncertainty. However, the Minister argued that Greece has managed to build a "brand" of stability. Maintaining primary surpluses remains the government's "iron rule" to ensure the country's credibility in international markets and further upgrades to its credit rating.

Conclusion

Kyriakos Pierrakakis’s speech at the 24th CFO Forum sent a message of cautious optimism. The Greek economy is showing resilience, but the challenges remain significant. The success of government policy will be judged by the speed of reform implementation and the ability to translate digital progress into tangible economic benefits for the average citizen. The "new normal" demands vigilance, fiscal discipline, and, above all, a climate of trust between the state, businesses, and society.