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This note is taken from Chapter 3 of Economic Policy Reforms: Going for Growth 2010.
In an article published in Kathimerini, A. Dean says it's urgent for the government to improve the financial situation and the efficiency of its public sector. It's the only way to restore trust in public finances, maintain a high economic growth rate and improve fairness among generations.
Economic forecasts for GDP, unemployment, inflation and fiscal balance.
Despite progress over the past decades, Greece’s educational indicators lag behind those of other OECD countries. PISA scores are low, a large number of tertiary students study abroad, and attainment rates are low at all levels of education, as discussed in this working paper.
Greek health outcomes compare favourably with the OECD average. However, the health care system is seen as not working well by the population. These and other issues are discussed in this working paper.
The health care system is seen as not working well by the population. One source of dissatisfaction is the high share of private spending on health. Public health care services need also improvement.
What are the economic challenges Greece faces? What could be the impact of the global crisis? What should fiscal policy do? What are the reform priorities in the public sector? How to improve public health care services? How to enhance education performance?
The high public debt and a large pension burden heighten the urgency to improve the efficiency of the public sector to enhance fiscal viability and restore room for manoeuvre for stabilization policy.
High public debt leaves virtually no room for fiscal manoeuvre to limit the impact of the crisis in Greece. The close trade and banking links established with the Balkan countries might be a risk in the near future.
Greece needs to enhance its education performance. While important challenges remain at all levels, early childhood education and care and the upper secondary education are in most need of reforms.