Page 3 - COMPASS - COMPETITIVENESS REPORT 2022 - COUNCIL OF COMPETITIVENESS IN GREECE

“COMPASS” REPORT 2022 – COUNCIL ON COMPETITIVENESS OF GREECE 1

t is with pleasure and satisfaction that I welcome the third annual Compass Report of
the Council on Competitiveness of Greece. Through its thorough proposals, this report
outlines the roadmap of the country’s policies and actions for the future, making an
Iactive contribution to the public dialogue on enhancing the resilience and competitive-
ness of the Greek economy against the backdrop of a volatile, rapidly changing international
environment — an environment that underlines the need for long-term development of
living standards in the country through improvements to its productivity, and in doing so
highlights the dynamic and multifaceted notions of resilience and competitiveness as key
concepts for both the present and the future.

As a Government, our priority from the very beginning of our term has been to radically
overhaul our country’s growth model, increasing productivity and improving the quality of
CHRISTOS
our national wealth. Our goal has always been and remains to achieve robust and sustain-
STAIKOURAS
able economic growth, increase the competitiveness and extroversion of the Greek economy,
reduce the investment gap, create numerous, sound jobs, and strengthen social cohesion.
MINISTER OF FINANCE
This goal is being achieved. The Greek economy is growing, adapting, and transforming. De-
spite its vulnerabilities, it has overcome the historic challenges of our times in an exemplary
manner, exhibiting strong resilience and preparedness to embrace reform in order to suc-
cessfully forge ahead in the new normality. It has dynamically recovered from the pandemic
recession and developed a powerful momentum that places it among the fastest growing
economies in Europe.

At the same time, a long-standing, fundamental goal is being realised: The productive recon-
struction of our country is in full swing. The growth model is shifting towards investments
and exports, which have achieved record levels and are expected to continue on their up-
ward trend. Greece keeps gaining ground on the international investment map, with research
and technology investments growing considerably. Meanwhile, there has been spectacular
improvement in goods exports, impressive growth in high-technology product exports,
and significant diversification of the export base. Furthermore, unemployment continues
to shrink, banks are regaining their role as financiers of long-term growth, the prestige and
credibility of Greece are being enhanced, and its performance on international indices of
keeps improving. Finally, the country is moving ahead in leaps and bounds in terms of its
digital transformation and energy profile.