Parliament: The new development law has been passed – More than €1 billion for Greek entrepreneurship over the next two years

The government has announced that over the next two years, resources exceeding 1 billion euros will be allocated to support the entirety of Greek entrepreneurship, as outlined in the development law approved by Parliament today.

This new development law ensures transparency and credibility through a collaboration between the Ministry of Development and private entities. With this initiative, decisions regarding resource allocation will surpass 1 billion euros, encompassing at least five development schemes aimed at benefiting all sectors of Greek entrepreneurship. A particular emphasis will be placed on bolstering large enterprises to enhance their competitiveness in a challenging market.

Our development goals aim to improve the country as a whole, addressing social and regional disparities, strengthening entrepreneurship, supporting the younger generation, encouraging youth retention in the region, and tackling the pressing demographic challenges, Theodorikakos stated. He highlighted that the ministry will evaluate the innovative proposals submitted during the discussions surrounding the new law, reflecting the intention to advance the economic development of the nation, which is a primary objective of the legislation.

Opposition parties expressed during the discussions that the growth promoted by the government lacks inclusivity and will not aid in reducing social inequalities or transforming the Greek economy productively. They argued that “the primary sector is overlooked by the aid framework and small and micro enterprises have minimal access to development law programs due to prohibitive minimum funding requirements.” Furthermore, they criticized the government for seemingly prioritizing large business interests over the needs of small and medium-sized enterprises, suggesting that estimates for employment enhancement would likely not be realized. Additionally, they noted that only 1 billion euros is earmarked from the development law for disbursement in 2025 and 2026, asserting that the Ministry of National Economy and Finance controls the distribution processes, which lack necessary accountability.

Market Surveillance

In his address, the Minister of Development also discussed the Cabinet’s approval of his proposal regarding market oversight.

“We are enhancing and streamlining the state’s mechanisms to assist citizens facing issues with purchasing goods or services. This effort aims to alleviate the burden of living costs and combat inflation, affecting many households, through the establishment of the new Single Authority,” Theodorikakos stated. He emphasized that the government is adopting best practices in creating a new, empowered authority equipped with advanced digital tools and modern capabilities, drawing on the expertise of the Consumer Advocate, the Consumer Protection Directorate of the General Secretariat of Commerce, and the audit department of the Ministry of Development (DIMEA) along with other oversight bodies. The minister noted the ongoing efforts have already yielded significant results, with Greece experiencing the lowest food inflation in the eurozone and negative inflation in essential living expenses. However, he affirmed that the fight against these challenges will continue unabated.