Greece’s deputy prime minister has signaled that relief for businesses struggling with high energy costs is just around the corner, with a government announcement expected within days.
Speaking at the Growth Awards 2026 ceremony — a business recognition event organized by Eurobank and international consulting firm Grant Thornton — Deputy Prime Minister Kostis Hatzidakis said the government is finalizing measures aimed at reducing energy costs for the industrial sector, with the goal of strengthening Greece’s competitiveness.
Hatzidakis acknowledged that negotiations with the European Commission on the matter have been lengthy, noting that Brussels operates on its own timeline. Despite the delays, he indicated the announcement is now imminent.
A country that exports energy
The deputy prime minister also highlighted a broader shift in Greece’s energy landscape, pointing out that the country has become a net energy exporter for the first time in many years; a development he described as a sign of competitiveness. “If our energy were expensive, we wouldn’t be able to export it,” he said.
Investment framework taking shape
Beyond energy costs, Hatzidakis outlined several upcoming regulatory milestones that he said would make Greece a more attractive destination for investment.
A new spatial planning framework for tourism — essentially a master plan governing where and how tourism development can take place — is set to be finalized this spring and will become an official government document. A similar framework for renewable energy is expected to be put out for public consultation as early as March, with an equivalent plan for the industrial sector to follow later in the spring.
Here is the rewritten section, with the optimistic government tone balanced against the documented concerns:
Racing against the clock to absorb EU recovery funds
Hatzidakis struck a confident note on Greece’s ability to fully absorb the funds available through the Recovery and Resilience Facility (RRF) — the EU’s flagship post-pandemic investment program, worth roughly 36.6 billion euros for Greece in grants and low-interest loans. “We are making every effort not to leave money on the table,” he said, describing the effort as coordinated across government ministries.
His optimism, however, runs up against a less comfortable reality. Greece has so far completed just over half — 53% — of the milestones required under the program, with the facility set to expire in August. Of the total package, only around 10 billion euros had reached final beneficiaries as of last September, according to data cited by the Deputy Governor of the Bank of Greece, Theodoros Pelagidis, who warned that the country needed to urgently accelerate its pace to secure the funds still allocated to it.
The deputy prime minister acknowledged the pressure, saying Greece is “now in the final stretch,” and insisted that the coordinated push across ministries would deliver results.
Broader economic agenda
Hatzidakis also touched on the government’s wider economic priorities ahead of the next election cycle. These include new tax cuts to be announced by the prime minister at the Thessaloniki International Fair — Greece’s premier annual economic policy event, traditionally used by the government to unveil major economic plans — as well as efforts to streamline bureaucracy, accelerate the justice system, and complete major infrastructure projects in roads, railways and energy.
On European Union funding, the deputy prime minister pushed back against concerns that Greece might receive less support in the next EU budget cycle (2028–2034). Based on the European Commission’s current proposals, he said Greece stands to receive around 49 billion euros in structural funds, with additional billions available through competitiveness funds — an overall package he described as comparable to what the country currently receives.
Source: ot.gr
