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Greece will raise pensions next year for the first time in more than a decade, its Prime Minister Kyriakos Mitsotakis said.
During its decade-long financial crisis that erupted in 2009, Athens was forced by its international lenders to cut pensions more than 10 times in order to reduce state spending and meet its fiscal targets.
The country received three international aid packages and went through major economic turmoil that caused many young Greeks to leave the country.
But Mitsotakis said Greece had now successfully turned a page from financial chaos.
Reflecting on 2015, the height of the financial crisis, Mitsotakis noted the country’s recent progress.
“Fortunately, all this belongs to the past. Today Greece is a different Greece,” he said.
Greece’s economy is expected to expand by 3.2% this year, according to the central bank, slightly lower than previously forecast to reflect increased uncertainty over the war in Ukraine and inflation.
Prime Minister Mitsotakis has been under continued pressure from the opposition to call early elections over his government’s handling of the COVID pandemic, as well as inflation and rising electricity prices, which have hit families hard.
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