Greece's Economy Expected to grow by 5.9% in 2021 says the prime minister

Saturday Greece's prime minister Kyriakos Mitsotakis said he expects Greece's economy to grow by 5.9% in 2021. This is surprising considering the prime minister previously came out and had predicted growth of only 3.6%. As mentioned in the article this expected growth can be attributed to 70,000 more jobs, 46,000 more businesses, and bank savings increasing by 35 billion euros. Given the expected increase the prime minister announced a tax reduction as well as spending targeted at young people. Tax breaks for small businesses encourage them to merge as well as new entrants in the job market will be subsidized. Something I found super interesting is the government is going to incentivize getting the vaccine to 15 to 17 year olds by giving them 50 gigabytes of data for their smartphones. Another announcement by the prime minister was to lower the corporate tax rate from 24% to 22% for small businesses. The prime minister stated his goal was to "increase households' disposable income," as well as strengthing entrepreneurship in the hopes of creating new jobs. The new package sets out to boost liquidity, business growth, as well as promotion of green and digital investments. Surprisingly enough it was also reported that despite the series of strict lockdowns for Covid, Greece's quartile GDP is now back to running above pre-pandemic levels. The prime minister also mentioned a plan to combat a rise in prices. The prime minister plans offset the prices in food and power costs. In doing so the prime minister has announced tax reductions of sales taxes on coffee, transport, non-alcoholic beverages, cinemas, gyms, dance schools, and tourism packages until June 2022. 

Sources: 

https://www.usnews.com/news/business/articles/2021-09-11/greeces-economy-to-grow-59-in-2021-prime-minister-says

https://www.bloomberg.com/news/articles/2021-09-11/greece-forecasts-fastest-gdp-growth-in-2-decades-plans-tax-cuts