The Minister of Finances Gikas Hardouvelis, one of the main speakers at a conference organized by the Economist that is held in Athens, has stressed that the Greek adjustment program is coming to an end. Mr. Hardouvelis argued that “the crisis must unite us, not divide us”, that there should be a greater coordination amongst oppositional forces in Greece and focus on the future of the Greek economy.
Regarding the future, the Minister promised that a balanced fiscal policy will gradually be implemented in order to lift the emergency tax levies and spoke of a “simple, just and friendly tax system”. The Finance Minister reported that the country’s tax policy is greatly dependent on the efficiency of the tax administration and vowed t combat tax evasion and illicit trade by streamlining fines, implementing preventative measures and rewarding honest taxpayers.
According to Mr. Hardouvelis, in 2014 Greece will generate a positive growth rate that must be protected with growth initiatives and targeted policies. As such, he asserted that cash flow in the banking system must increase, private debt must be addressed, bureaucracy must be reduced and further initiatives must be taken to attract new investments.
