Greek Prime Minister Kyriakos Mitsotakis appointed on Friday a new development minister and replaced his labor minister in a cabinet reshuffle aimed at helping Greece deal with a high cost of living.

Takis Theodorikakos was named development minister, while Niki Kerameus took the Labor Ministry's portfolio.

Mitsotakis kept Finance Minister Kostis Hatzidakis unchanged.

Earlier this week, the prime minister said that he would proceed to take "corrective measures" after his conservative party gathered a smaller percentage of votes than expected in the European Parliament election on Sunday. 

(With input from agencies)