New Development Law Passed: Over €1 Billion to Be Allocated Over Two Years

Over €1 billion will be allocated over the next two years, according to statements by the Minister of Development, as part of the newly passed Development Law on May 28, 2025. According to ertnews, Mr. Theodorikakos concluded by stating: “The development law guarantees transparency, reliability, seriousness, and collaboration between the Ministry of Development and private entities, ensuring resource distribution that will exceed €1 billion in decisions over the next two years. This includes the implementation of at least five development regimes outlined in the new law, covering all Greek entrepreneurship—from large enterprises, whose strengthening and competitiveness are critical in a harsh international market, to small and medium-sized businesses, supported by various financial tools from the Greek State in recent years.” As the minister commented: “Our goal of development concerns the entire country, addressing necessary reductions in social and regional inequalities, supporting entrepreneurship, aiding the retention of young people in rural areas, and tackling Greece’s acute demographic problem.” According to ertnews, Mr. Theodorikakos stated that “creative proposals submitted during the discussion of the new development law will be examined by the ministry because the aim is to turn the goal of continuous development and transformation of the Greek economy into action for the benefit of Greek society.” During his intervention, the Minister of Development also mentioned the approval of his proposal by the cabinet for market supervision. “We strengthen and unify the state mechanism where any citizen facing issues in purchasing goods or services can address them, facilitating efforts to reduce living costs and tackle price problems affecting many households through the creation of the New Unified Authority,” said Theodorikakos. He noted that the government drew inspiration from best practices, such as those of the AADE and Scandinavian countries like Sweden, whose model resembles the proposal being implemented. “Through this reform, we aim to create a new powerful authority equipped with strong digital tools, modern dynamics, leveraging the potential of the Consumer Advocate, the Consumer Protection Directorate of the General Secretariat of Trade, and the regulatory mechanisms of the Ministry of Development, including DIMEA and others within the Ministry framework,” the minister said, adding that significant results have already been achieved, with Greece experiencing the lowest food inflation in the Eurozone and negative inflation in essential goods—but emphasized that efforts to combat these issues will never cease.