Breaking the debt cycle: Digitalization and structural reforms as drivers of growth and debt reduction — The Greek experience

To emerge from a deep and prolonged economic and debt crisis, Greece undertook a broad program of economic and administrative reforms aimed at restoring fiscal sustainability, reviving growth, and strengthening social cohesion. Since 2019, Greece achieved record debt reduction, improving its debt-to-GDP ratio from 209% to less than 140% in 2026, while achieving renewed economic growth and safeguarding vulnerable social groups. These outcomes were not the result of austerity measures, but of structural reforms, with the digital transformation of the state playing a central role in improving public administration, increasing revenues, reducing costs, enhancing transparency, and attracting investments. Other strategic interventions, such as leveraging the energy transition to renewable energy sources, in order to reduce energy costs and attract investments, were also key enablers.

Greece’s experience offers practical lessons and transferable best practices for countries facing high debt burdens and limited fiscal space on how growth, debt reduction, and social protection can be pursued simultaneously, while avoiding socially disruptive and counterproductive draconian austerity measures.

Objectives

In an interactive panel, the event aims to:

• Present Greece’s post-crisis reform trajectory as a case study of integrated economic transformation
• Highlight the role of digitalization in strengthening public finances through higher revenue collection, reduced administrative costs, and improved service delivery
• Showcase how simplifying procedures and modernizing legislation can support growth and fiscal sustainability.
• Identify policy lessons and best practices, such as using the energy transition as a driver for economic growth and investment, relevant for developing countries seeking inclusive growth and debt reduction
• Foster dialogue between policymakers, international organizations, and development partners

Programme

• Opening Remarks
• Keynote Presentation by Deputy Minister of National Economy and Finance of Greece, Giorgos Kotsiras “Greece’s post-crisis reform model: digitalization, structural reforms, and fiscal outcomes”
• Panel Discussion
  • Digitalization and revenue mobilization
  • Social protection and inclusive reform design
  • The energy transition as a driver for inclusive economic growth and investment
• Interactive Discussion
  Reflections from member states and international organizations
• Closing remarks