Greek cabinet approves national stimulus plan –

Greek cabinet approves national stimulus plan –

Greece’s national stimulus plan was given a green light Monday by the Monday and will be presented by Prime Minister Kyriakos Mitsotakis once Brussels approves the final plan in April, government sources said.

The county’s national stimulus package has the potential to add an additional seven units to GDP over the next six years, above the natural growth rate of the Greek economy, and create 200,000 jobs, Mitsotakis said.

“It is a gigantic program which has the potential to mobilize nearly 60 billion euros, 32 billion of which are guaranteed by the recovery fund: 19 billion euros in grants and the balance of loans. By adding the leverage of the private sector on capital and borrowing, we estimate that a total of 57 billion euros can be mobilized, Mitsotakis mentionned.

“There are 160 actions described in the plan which “concern public works, investments, reforms and have specific timetables and concern all of Greece and all Greek citizens,” he added.

Greece’s estimates of doubling the national plan’s financial capacity with private sector money may seem a bit optimistic. (Theodore Karaoulanis |

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