Greece Seen as a Leading Model for Budget Reform

A new report by the Organisation for Economic Co-operation and Development highlights the significant progress Greece has achieved in recent years in implementing fiscal reforms, particularly in performance budgeting, spending reviews and the integration of environmental considerations into public financial management.

The findings were presented for the first time in Greece during an event organised by the General Accounting Office of the State at the National Gallery – Alexandros Soutsos Museum.

Deputy Minister of National Economy and Finance Athanasios Petralias emphasised that the OECD report demonstrates the country’s steady reform trajectory, particularly in strengthening the evaluation of public expenditure through performance budgeting frameworks, systematic reviews of spending and revenue, and the incorporation of environmental criteria into fiscal policy.

According to Petralias, the development of these tools enhances the resilience of Greece’s fiscal policy both during periods of crisis and economic stability, supporting more effective allocation and reallocation of public resources.

Within this framework, the importance of spending and revenue reviews conducted by the General Accounting Office was highlighted, including the growing expertise developed in both comprehensive and environmentally focused assessments.

The OECD study notes that Greece has established a stable system for reviewing public expenditure and revenue, contributing to improved cost-benefit outcomes in public sector management. It also highlights improvements in transparency, accountability and the strategic orientation of the national budget, while recognising the reliability of the tools developed to assess public policies.

Jon Blondal, Head of the Public Management and Budgeting Division at the OECD, described Greece’s reform progress as noteworthy, underlining the strong political commitment and sustained effort in designing and implementing fiscal reforms. He noted that Greece’s experience can serve as an example for other countries.

Secretary General for Fiscal Policy Pavlina Karasiotou stated that the General Accounting Office continues to invest in a comprehensive reform ecosystem and an innovative holistic approach to public budget management, including the development of indicators that support effective evaluation of government performance and strengthen transparency.

Director General for Fiscal Policy and Budget Ioulia Armagou added that Greece is now considered among the most advanced countries in these areas, with its reform practices increasingly presented as best-practice examples in OECD and European Union discussions. She noted that Greece is also providing technical expertise to countries including Austria, the Czech Republic, Cyprus, Portugal, Estonia, Montenegro and Korea.

Head of the Prime Minister’s Economic Office Michalis Argyrou highlighted the importance of performance budgeting in linking public funding to measurable outcomes, strengthening transparency and improving public understanding of fiscal policy.

Greece’s Permanent Representative to the OECD, Ambassador George Pagoulatos, emphasised the country’s active international engagement and holistic approach to fiscal governance.

UK Ambassador to the OECD Andrew Wood also acknowledged Greece’s reform trajectory, describing it as a source of inspiration for other countries seeking to strengthen their public finance frameworks.

Finally, Giannis Tsoukalas, Coordinator of the Hellenic Parliament’s Budget Office, underlined the importance of fostering a culture of fiscal responsibility and the effective use of data by public institutions.