Prime Minister Kyriakos Mitsotakis promised his government would soon decide on specific policies to address rising energy costs during a speech at the General Assembly of the Hellenic Federation of Enterprises (SEV) on Tuesday evening.

In his speech, Mitsotakis avoided outlining concrete actions, instead opting to vaguely appease his audience’s concerns and the investment insecurity of industrialists and entrepreneurs present.

The Prime Minister noted that the industrial production index has risen by 3% in Europe compared to 2019, while in Greece it has increased by more than 25%.

“We will soon decide on interventions for energy costs. This government has stood—and continues to stand—by industry, reducing costs through emission offsetting, public service obligations (YKO), the ETMEAR levy, and consistently lower charges amounting to hundreds of millions of euros,” Mitsotakis said, reminding the audience of previous government actions.

Recounting some of his government’s achievements, the PM stated, “We have reduced 83 taxes—20 of which directly affect industry. Incentives have been provided in key sectors. Banks are now free from non-performing loans.”

“We have supported the industry. We know that international competitiveness is a continuous exercise. The solution we are preparing must have specific characteristics: it must primarily support energy-intensive industries but also have a broader scope,” he concluded.

“Economic growth is not an abstract macroeconomic concept. Unemployment has dropped from 19% to 8%. We have created 500,000 new jobs. Despite weaknesses, the public sector has become digital and more accessible to citizens. We have reduced 83 taxes, 20 of which directly affect the industry. Incentives have been provided in key sectors. Banks are now free from non-performing loans,” he said.