Alternate FinMin Christos Staikouras presented on October 10 during his speech at the Parliament the ten key pillars of the government’s roadmap to development.

These include:

1) the gradual easing of citizens’ tax burden,

2) the achievement of high, sustainable primary surpluses,

3) the certification of public debt sustainability,

4) the improvement in the quality of public finances (increased efficiency, etc),

5) the enhancement of social expenditure effectiveness (targeted social policy interventions, etc),

6) the creation of a fair, effective and modern state (qualitative reforms),

7) the increase in investment and exports (tourism, shipping, FDI, etc), hence lowering the contribution of private consumption to GDP,

8) the faster absorption of European (ESPA) and national (PIP) funds,

9) the acceleration in the implementation of the privatisation scheme and exploitation of public real estate (HDRAF said recently that it plans to raise c€400m next year from real estate securitisations), and

10) the normalisation of credit expansion and market liquidity.