According to the data of the Swiss federation, exports to Greece amounted to 6.9 million Swiss francs, recording an increase of 14.5% compared to 2021.
This is news that is passed over in the fine print and it is easy to think that it does not concern the many who are suffering from the cost of living crisis that is generated by obscene profit.
However, it is news that is used by celebrants to demonstrate the prosperity that the economic course of the years supposedly creates in society Kyriakou Mitsotakis.
Let’s not forget that the responsible Minister of National Economy and Finance is often present Kostis Hatzidakisbrimming with seriousness and a hint of pride, declares that the Greek economy is on the upswing, based on the fiscal growth of the GDP, the increase in tourist flows and consumption.
Lack of production base from 2019
However, what has happened is that since 2019 the development model adopted by Mr. Mitsotakis is based on the production of products and services of low and medium added value. This is called lack of productive base. On the other hand, regarding the demand, the dominant model concerns the overconsumption of luxury products. This kind of consumption constitutes the sale of Swiss watches. Car sales also fall into the same category.
According to the data, 2023 closed with a sales increase of 27.8%. In absolute numbers, 134,514 sales were made in 2023, when 105,283 were sold in 2022.
Happy news, since it seems that the Greeks are succeeding and buying cars and watches, anyone who wants to see things on the surface will think. This is exactly what “serious” politicians like Mitsotakis and Hatzidakis are taking advantage of to celebrate with narratives like “strong Greece”, “better economy within the euro zone”.
ND celebrations for tax-absorbed GDP
In eleven days from today, ELSTAT will announce the first estimate for the GDP. There the government celebrations will begin and the orchestra of the “Titanic” (see: systemic media) will play for development. As in the decade 2000-10, we are following the path of consumption of luxury imported products in terms of demand.
Obviously, it does not concern the entire population that has fallen on its knees, but a large part of it – estimated at 30% – which demonstrates its consumption power that has been greatly facilitated by the significant reductions in taxation of the last four years (reduction in taxation of parental benefits, dividends , solidarity, ENFIA, corporate tax reduction, etc.).
It is clear that these reductions were directed mainly at the highest and highest incomes. On the other hand, in the middle and low incomes – about 68% of the population – what has been given is an extreme burden, through the obscene profit that generates a monstrous increase, and indirect taxation (VAT).
The trade deficit dragon
But who is the dragon in the tale of tax-inducing growth and the strong consumer economy? It is called trade deficit. According to the data, the “gap” between imports and exports for 2023 amounted to 31 billion euros. According to the data on commodity transactions of the Bank of Greece:
The total value of imports in 2023 was recorded at 81.96 billion euros.
The total value of exports for the same period amounted to 50.92 billion euros.
If we look at it compared to 2022, then we will realize that the trade balance deficit has decreased by 20%. However, this drop compared to 2022 comes as a result of the greater decrease in imports (13.3%) compared to the decrease in exports (8.7%). Market players estimate that importers have discounted the reduction in consumption for 2024 and therefore bought less. “Titanic” does not see the iceberg…
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