Finance minister vows full repayment of bailout loans by 2031

[InTime News]

Greece aims to fully repay the loans from its first international bailout package a decade ahead of schedule, Economy and Finance Minister Kyriakos Pierrakakis has reiterated in an interview with Bloomberg, during his visit to Brussels for Eurogroup and EU finance minister meetings.

Pierrakakis stated that the country intends to make another early repayment in 2025, building on previous early payments. “The bailout should be completely behind us by 2031,” he said, emphasizing that for his generation and government, “fiscal prudence is not a policy choice, fiscal prudence is a regime.”

He highlighted that Greece was among just six EU countries with a headline surplus in 2024, largely thanks to intensified efforts against tax evasion. The government aims to maintain primary surpluses, with the 2025 surplus projected at 3.2% of GDP.

On international trade, Pierrakakis affirmed Greece’s support for free trade but noted it would align with the EU’s position in ongoing negotiations with the United States, amid rising tariff concerns.

Addressing defense spending, the minister called for some flexibility within the EU’s new fiscal rules, citing Greece’s high defense costs as a matter of “geographic fate” rather than political choice.

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