Finance Minister Kyriakos Pierrakakis spoke on SKAI TV on Monday morning, June 16, about the conflict between Israel and Iran that has caused global concern, emphasizing that the economic team continuously monitors all developments and that the government remains vigilant. Mr. Pierrakakis stressed that following the renewed tensions between Israel and Iran in the Middle East, any disruption in energy markets and beyond is being closely monitored by the government, while noting that “we hope we won’t see the worst.”
Read: Giannis Hatzitheodosiou on Israel-Iran conflict: Enormous risks for global and Greek economy
Subsequently, as the minister explained, Kyriakos Mitsotakis spoke with Benjamin Netanyahu, while also recommending calm. Additionally, Mr. Pierrakakis referenced oil prices. “The Brent barrel is currently at $77, while last year at this time it was at $82,” Mr. Pierrakakis noted characteristically.
Kyriakos Pierrakakis: What are the consequences of the Israel-Iran conflict
Regarding fears of price increases, the minister reminded that the Development Ministry is already conducting inspections, noting that the government is trying to combat high prices with a range of measures, while warning that “if the Strait (of Hormuz) closes, it will have extremely negative consequences, but we’re not there yet.”
However, the minister was reassuring regarding the government’s plan for positive interventions at the Thessaloniki International Fair. He emphasized that the new fiscal framework has the advantage that even during difficult years, you can spend the same amount within the framework of countercyclical policy.
Among other things, he previewed crucial interventions in taxation as well as housing, with emphasis on the middle class, as he underlined that every month that passes, we try to support society.
Finally, the minister referenced borrowers in Swiss francs. As he said, the economic team is studying a solution, wanting to ensure it won’t “hit” the Hercules program. As Mr. Pierrakakis explained, there are many parameters that need to be examined, while he announced that “we will speak more specifically soon.”
