85676
Greek Growth Recovering
Greek Growth Recovering

Greek Growth Recovering

Greek Growth Recovering

After significant reforms, Greece’s recovery from deep economic depression is finally gaining traction, according to the OECD. Economic growth is picking up led by exports. Labor market reforms have improved competitiveness and are helping to create long-awaited jobs, Modern Diplomacy reported. GDP growth is projected to strengthen, remaining above 2% in 2018 and 2019. In its latest Economic Survey of Greece, the OECD recognizes the remarkable reform effort of the past two years. The study highlights that the credibility of public finances has markedly strengthened, after an unprecedented fiscal consolidation, boosting investors’ confidence in the country’s prospects. Despite these positive developments, unemployment, poverty and inequality remain high, wages are low, investment remains depressed and productivity keeps falling. Presenting the survey in Athens, with the Greek Prime Minister Alexis Tsipras, OECD Secretary-General, Angel Gurria said: “The reforms undertaken by Greece have finally started to bear fruit. It is an impressive achievement. With strengthened public finances and a much improved macroeconomic framework, addressing poverty and raising living standards is a priority.”

 

Short URL : https://goo.gl/HijLc1
  1. https://goo.gl/mEbeCj
  • https://goo.gl/zxbYJb
  • https://goo.gl/thw9GE
  • https://goo.gl/PByWUv
  • https://goo.gl/KqSPD1

You can also read ...

If both sides continue with tit-for-tat tariffs, the inflation would lead to further increases in interest rates  and give rise to disturbances in the currency markets.
The trade war between the US and China risks substantially...
Norway to Surpass Sweden
Sweden’s economic prospects have dimmed in recent months and...
Hong Kong’s GDP fell to 3.5% in the second quarter.
The outlook for Hong Kong’s economy is darkening as rising...
Many emerging market economies are better prepared now because they have a good international reserve position and they allow their exchange rates  to float more freely.
Italian economist Claudio Borio is considered an authority in...
China Growth Momentum Slows
China’s economy hit a mid-year rough patch as efforts to curb...
Crypto Market Struggles as Bitcoin Dips Below $6,000
Bitcoin touched below $6,000 and dozens of smaller digital...
Lebanon Economy Struggling
Lebanon’s economy has been in a precarious position in recent...
Finnish GDP May Slow
The Finnish economy remained robust in the spring and early...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus