Page 5 - COMPASS - COMPETITIVENESS REPORT 2021 | COUNCIL OF COMPETITIVENESS IN GREECE

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• Reinforcing the stability of the financial system and liquidity, with further reduction of
“red loans” in bank portfolios via the successful Hercules programme.
• Continuation of the denationalisations plan and implementation of emblematic
investments.

• Voting in the new legal framework to address private debt.

All of the above constitute actions which bring not only short but medium-long-term
benefits, contributing to strong economic recovery following the challenge of the
coronavirus, and towards achieving strong, sustainable, smart and inclusive growth;
recovery and development boosted by the optimum utilisation of European resources
from the EU Recovery Fund 2021-2027.

To this end, the Government has drawn up a realistic yet ambitious, modern and
extroverted National Recovery and Resilience Plan. Dubbed “Greece 2.0”, the plan aims at
closing the existing gap in production and investment, as well as the employment gap, and
at addressing social exclusion. It constitutes the springboard – in conjunction with other
national and European policies and finance tools – to shift the country’s economic model
towards a more competitive, innovative, fair, smart and green model of production; a
production model that will champion investments and exports as the driving forces of the
Greek economy, bringing together economic efficiency and social cohesion and justice.

Following the strategy above, and staying the course of reformation, State, businesses and
employees, we will create together the conditions to systematically increase disposable
income, to create numerous – good – new jobs, to reduce inequalities and every form of
exclusion, and to enable our country to join the ranks of Europe's dynamic economies.