The celebrations of “serious” politicians such as Kostis Hatzidakis. The reason was found in the increase in GDP in 2023 compared to 2022. In terms of volume, according to ELSTAT, in 2023 GDP reached 194.5 billion euros against 190.7 billion euros in 2022, showing an increase of 2% (at current prices the GDP for 2023 amounted to 220.3 billion euros). The always “restrained” K. Hatzidakis grabbed the scarf and dragged the dance of the festivities declaring that “the growth rates of the Greek economy are four times the average of the Eurozone”!
In the same project viewers
It may be that the “tsar” of the Greek economy was leading the dance, but the dark falsification of the economic situation was inflated mainly by the systemic media. We have been following the same pattern for almost five years now. Thick government words empty of content that simply obscure the path towards the rocks that Greece has taken once again and that the coming years will bring with statistical certainty a new memorable era.
Seriousness
Somewhere here the question “what would a serious government do?” arises. Would he try to obscure by exaggerating and celebrating the evidence of an economy showing recovery, relying on Community loans and grants combined with an extreme instrumentalization of profiteering, to collect indirect taxes (mainly VAT and excise duties – EFFK)? Maybe if there were nuggets of seriousness in politicians like K. Hatzidakis, solutions should be given to the serious pathologies? Should we celebrate tax-inducing GDP growth, the artificial reduction of unemployment (10.8% of the unemployed are hidden in the inactive population) and the GDP-to-public debt ratio, or should we indulge:
- In the public and private debt that is unthinkable and constantly increasing in absolute numbers.
- In the trade deficit (imports minus exports) and balances of payments that have entered the diversion level as early as 2022.
- In the investments that are predominantly concentrated in the traditional sectors of low added value (tourism, constructions, etc.).
- In foreign direct investments (FDI), which despite their increase mainly concern the acquisition of existing large profitable state-owned enterprises. Very recently the
- PricewaterhouseCoopers (PwC) estimated that in 2024 privatizations will exceed 6 billion euros.
- In the Recovery Fund money that is kept in the coffers to show an increase in GDP figures. Indeed, the total real absorption does not exceed 10% (the accounting absorption is less than 25%), when the country has collected a total of 14.7 billion euros!
Taxable growth
Indirect taxation also comes into all of this. According to the 2023 budget execution data, 41% of government revenue came from indirect taxation and only 28.2% from income tax.
Specifically, of the total state budget revenues of 73.99 billion euros, 61.6 billion came from taxes, which are analyzed:
- VAT revenues amounted to 23.385 billion euros (31.6%).
- Revenues from excise taxes amounted to 7.018 billion euros (9.48%).
- Income tax revenues amounted to 20.884 million euros (28.2%).
- Real estate tax revenues amounted to 2.491 billion euros (3.36%).
- This state of the Greek economy should in no way bring celebration as it shows a lack of seriousness on the part of the government. Unfortunately for all of us, K. Hatzidakis, who has the shortest CV in the country (he has never worked), has been appointed by Kyriakos Mitsotakis as Minister of National Economy and Finances and in every statement he makes he is serious.
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#taxes #loans #inflated #GDP
