Greece Plans €5 Billion Debt Repayment

Greece is set to repay €5 billion ($5.3 billion) of bailout-era debt ahead of schedule by 2025, as announced by Prime Minister Kyriakos Mitsotakis during a banking conference in Athens. He emphasized this repayment as a sign of the country's fiscal recovery and commitment to public financial discipline. The Greek Finance Ministry plans to achieve this through primary surpluses, loan repayments, and efforts to combat tax evasion. However, the government is facing significant public unrest due to rising living costs, which has led to union protests and a general strike planned for Wednesday. Mitsotakis' administration, re-elected in 2023, is under pressure as high inflation affects household budgets and approval ratings decline. Despite these challenges, Greece's economy is projected to grow by 2.1% in 2024, with unemployment decreasing and inflation expected at 3%.