Guys, we’re not doing well! Or rather, to be precise, we are not doing as well as the Prime Minister Mr. Kyriakos Mitsotakis says. You know, the unique success story of the Greek economy, which has become the talk of the town in Brussels, and wherever ours succeeds, they congratulate him! That’s not playing, okay?
They lowered the bar
The International Monetary Fund predicted a few days ago that the Greek economy will grow by 2% during 2024. A few days earlier, the governor of the Bank of Greece, Mr. Giannis Stournaras, spoke of growth of 2.3%.
And the government
Well, at the end of the month the Minister of National Economy and Finance Mr. Kostis Hatzidakis is going to submit the summary Stability Program to the European Commission. And there the optimistic forecast of the budget for growth from 2.9% to 2.5% is going to be revised.
Maybe further down
But even between us, as we talk, they don’t believe in this assessment either. They certainly believe that growth this year will be over 2% and as the most likely estimate from some circles, 2.3% is being talked about. That is, they coincide with the forecasts of the Bank of Greece.
Tourism
And as you understand, “all their money” has been put into tourism, which looks like – if nothing goes “wrong” – it will break a new record this year, as well as from the momentum that will be “released” from the “leveraging” of funds of the Recovery Fund. Until there! Because whatever “reserves” of optimism the market had seems to be running out.
The reality
The Icap survey published by the column yesterday regarding the forecasts of top business executives was revealing. But also the financial endurance of consumers is running out – precision leaves no room for such … luxuries! Of course, from the government’s point of view, they repeat that growth in Greece will be twice that of the Eurozone, for which the forecast is 0.8%. And they repeat it every chance they get. But propaganda is one thing and reality is another…
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The 88th TEF
It’s almost time for the big shopping event of the year. The reason for the International Exhibition of Thessaloniki. This year the 88th TEF is expected to be of great interest as the honored country will be Germany.
As you will read in the OT, the “steam engine” of the European economy will be represented by 100 companies and business entities.
Heavy names
At the 88th TIF, as I learn, will be all the heavy “papers” of the German economy. From Volkswagen to RWE and Bayer to BASF.
The commercial transactions between Germany and Greece exceeded 12 billion euros in 2023, while some of the emblematic investments and business partnerships in our country are that of PPC and RWE for the development of photovoltaic parks, the Volkswagen project in Astypalaia and of course the planned electrical interconnection of Greece – Austria – Germany.
Messrs. Tasos Tzikas and Kyriakos Pozrikidis
The organization of the 88th TIF with Germany as the honored country by the management of TIF – HELEXPO has an interesting background.
As I learn, the president, Mr. Tasos Tzikas, and the CEO of TIF – HELEXPO, Mr. Kyriakos Pozrikidis, have been running since 2019 for the invitation of the Germans to the country’s major commercial event.
With the cooperation of the respective exhibition organization of Cologne they achieved the agreement.
And the interesting thing is that the TIF with Germany as the honored country was planned for 2020, but the pandemic forced the Prime Minister Mr. Kyriakos Mitsotakis and the government to cancel the organization of the exhibition at that time.
Mr. Kyriakos Mitsotakis
And since I referred to the Prime Minister, Mr. Kyriakos Mitsotakis, the announcement by him of the final decision on the renovation of the TIF – HELEXPO space is of particular political importance.
Mr. Mitsotakis will proceed in May from Thessaloniki in the announcement of the financial scheme. I learn that out of the 120 million euros, a part will come from RRF resources.
And why do I say how the announcement by the prime minister himself has political significance? Because it takes place just before the European elections and in a geographical area where the government and ND seems to be facing a popularity problem.
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Elektor
Ellactor’s financial results for 2023 were at historic levels.
This was pointed out by the CEO of the group, Mr. Efthimios Bouloutas, who, during the briefing of the analysts, made sure to remind the situation in which the group was when the Dutch Reggeborgh entered the share capital.
The group’s net profits were in 2023 at 116 million euros, at the highest levels of the last 10 years.
Of course, Ellactor, in the last two years, proceeded to sell important assets such as Anemos RES, construction company Aktor and Smart Park.
It remains to be seen if, in the future, out of the claims for projects amounting to 6 billion euros, who will win and if these performances will continue…
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