Aggregate investment has declined markedly over the crisis and has yet to recover. Reviving domestic and foreign investment is crucial to supporting the economic recovery, deepen Greece’s integration into global value chains and raising living standards.
Employment is pivotal to strengthening Greece’s economic recovery, increasing social welfare and redressing poverty.
Greece is finally recovering from a deep depression. In 2017 GDP expanded by 1.3%, according to initial estimates, and is projected to accelerate to 2% in 2018 and 2.3% in 2019.
Greece’s economic recovery is finally gaining traction after an unprecedented depression. GDP has started to recover after having fallen by a quarter from 2008 to 2016. In the last two years, the pace of reforms has accelerated and broadened.
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This country note from Going for Growth 2017 for Greece identifies and assesses progress made on key reforms to boost long-term growth, improve competitiveness and productivity and create jobs.
With weak domestic demand and a relatively low export share in the economy there is much potential to raise exports. Despite a recent pick-up Greek export performance deteriorated in the last decade particularly in the service sector and by much more than in the Euro area on average
This paper analyses the effects of the Greek crisis on inequality and poverty in 2009-2014 using the micro-simulation model EUROMOD.
The Greek economy is turning around lately, but it remains in a deep depression. GDP has fallen by more than a quarter between 2007 and 2015, unemployment remains extremely high at 25 percent and anchored poverty – which measures poverty relative to its pre-crisis income level – has nearly tripled between 2007 and 2014, reaching a third of the population.
Boosting investment in infrastructure and logistics, further liberalising the network industries, improving investment in human and knowledge-based capital to allow upgrading in the global value chains will be essential to enhance export performance.
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This country note from Going for Growth 2015 for Greece identifies and assesses progress made on key reforms to boost long-term growth, improve competitiveness and productivity and create jobs.