The Minister of Economy, Kostis Hatzidakis, referred to the latest initiatives of the government for the expansion of electronic transactions and the reduction of red loans. With the completion of the interconnection of POS with cash registers ahead of the deadline, more than 407,000 businesses have complied, exceeding the Recovery Fund's target of 402,000.
35 new sectors will be added to e-payment
At the same time, the government is promoting electronic payment in 35 additional sectors, while in taxis alone, the use of electronic transactions has doubled in a year. The measure is further extended with the mandatory use of electronic invoices from 2025, recently approved by the European Union as a measure to combat tax evasion. The ban on cash in real estate purchases is also part of these efforts, seeking greater transparency.In the area of red loans, the EUR 1 billion extension of the Hercules programme will help reduce non-performing loans from 7.5% to 3-3.5%, reaching the European average. At the same time, progress is also being made in reducing the number of red loans in the hands of servicers, while the use of the out-of-court mechanism is being strengthened, providing solutions to more debtors.
Low-interest loans underway
Hatzidakis points out that banks must reduce excessive charges on electronic transactions. Already, three of the four systemic banks have revised their policy in this direction, and the aim is for the use of direct payments, such as through the IRIS system, currently linked to 3.3 million IBANs, to cover all businesses by 2025.The minister stressed that the low-interest loans of the Recovery Fund, totalling €12.4 billion, are already underway, while an additional €4 billion is to be made available by the Hellenic Development Bank to support small and medium-sized enterprises. These measures are aimed at enhancing liquidity and supporting smaller businesses, which face the greatest challenges in the current economic environment.Concluding his speech, Hatzidakis referred to the need to fight tax evasion, stressing that the government aims at a continuous modernisation of the economy in order to combat pathologies. In this context, the adoption of best international practices is sought, aiming at transparency and fairness, while he assured that the government will proceed with determination, addressing social and economic challenges in cooperation with the market.