entrepreneurship. In order to achieve this, the
government undertook a series of actions with
specific goals and timetables:
● The primary deficit has almost been eliminated.
It is anticipated that, by the end of 2013, the
primary deficit will be the sixth lowest in the
euro zone.
● Significant changes in the labour market have
led to a more flexible and competitive economy.
● In cooperation with the European Investment
Bank, a €1.44 billion liquidity package has
been secured for Greek SMEs, and the dis-
bursement of the funds to beneficiaries has
already begun.
● The disbursement of funds from the National
Strategic Reference Framework is continuously
improving: the objectives for the second half of
2012 have been achieved, while the current
absorption rate is above the EU average.
● Public projects have been given priority, in
order to support the construction sector: work
on four major highways is expected to restart
in a couple of months, the construction of the
subway in Athens and Thessaloniki is being
continued, the construction of Piraeus’ tram
has already started. At the same time, major
railway and port projects are underway. During
the past six months, the procurement of proj-
ects budgeted at a total of €2.2 billion has
been completed, of which €500 million have
already been contracted.
In order to further support the construction industry,
which has been facing serious problems, we
undertook significant legislative initiatives, such as:
● the implementation of the National Electronic
Public Procurement System, which will lead to
full transparency, cost reduction, and the
development of new jobs;
● the provision for advance payments of up to
10% for co-funded projects;
● the reduction of guarantees in public works.
Furthermore, we enhance competition and facili-
tate entrepreneurship by:
● adopting new, simpler market inspection poli-
cies and health regulations that will allow com-
panies to increase sales;
● adopting additional measures, in order to reduce
the cost of setting up a business by 50%,
● Collaborating with the World Bank Group, in
order to provide the know-how for the promotion
of entrepreneurship and competitiveness, which
can lead to the development of new jobs,
● presenting the Parliament with a bill on strate-
gies and private investments, including provi-
sions for the establishment of a “Central
Licensing Authority”, as well as simpler proce-
dures for dealing with bureaucracy and electron-
ically monitoring the investments’ maturity
degree.
As far as privatizations are concerned, an out-
standing and far-reaching plan is being promoted,
to help establish a sound production base.
● The new strategy for the development of 37
regional airports through concession agree-
ments has already been presented.
● An ambitious program for the exploitation of
the Greek state’s property for a range of uses
is being promoted.
● The process for the privatization of public com-
panies, such as Hellenic Post (ELTA), EYDAP
S.A. and Egnatia Odos S.A., is being initialized.
I strongly believe that with hard work, responsibility
and cooperation between all related stakeholders,
we can soon change the current situation for the
better.
Trade with Greece
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