Greek 2027 budget presentation and economic outlook

Greek government officials have presented and defended the 2027 draft budget, emphasizing the nation’s improved economic standing. Finance Minister Kyriakos Pierrakakis reported that Greece has transitioned from being a ‘black sheep’ of the European economy to a point of reference, noting growth rates that have exceeded the European average for seven consecutive years.

The budget outlines goals to reduce unemployment to approximately 7.8%–7.9% and increase worker compensation. Pierrakakis also highlighted a strategy of early public debt repayment and interventions to mitigate the energy crisis. During a presentation to the Parliamentary Committee on Economic Affairs, Pierrakakis forecasted a 2.3% growth rate for 2027, which would surpass the Eurozone average of 1.2%. He noted that while the economy is growing, the cost of living remains a primary concern, citing 1.4 billion euros in government interventions for energy costs and social support. Additionally, wage increases are projected at 3.9% as inflation decelerates.

Supporting the draft, New Democracy general rapporteur Theodoros Skylakakis stated that public finances are in order and national debt is decreasing. He noted that the post-Recovery and Resilience Facility era presents new challenges, requiring productivity-increasing reforms to maintain growth. Skylakakis also warned of a potential ‘perfect storm’ in 2027, citing risks such as European political instability, fiscal crises in France, and geopolitical tensions.

In parallel diplomatic efforts, Deputy Minister Dimitris Markopoulos promoted Greece as a stable investment destination at the Delphi Economic Forum in Toronto, highlighting 91 tax and social security reductions implemented since 2019 to attract Canadian capital.