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.
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This note presents selected findings based on the set of well-being indicators published in How's Life? 2016.
The answer to the question "how's life?" depends on where you live. The factors that determine well-being can vary dramatically across the same country so national averages may not provide the full picture. See our regional indicators to see exactly how life is being lived.
Il sera essentiel de dynamiser l’investissement dans les infrastructures et dans le secteur logistique, de poursuivre la libéralisation des industries de réseau et d’améliorer l’investissement dans le capital humain et intellectuel pour favoriser la progression dans les chaînes de valeur mondiales afin de rehausser les résultats à l’exportation.
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Between 2009 and 2013, public spending on health fell by EUR 5.2 billion – representing a 32% drop in real-terms. This reduction clearly represents a shock for the system to adsorb, even though it is clear that there were inefficiencies in the Greek system (for example, inappropriate prescribing, weak primary care, imbalances in the mix of health professionals).
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Greece has the 14th highest tax wedge among the 34 OECD member countries in 2015. The country occupied the same position in 2014. The average single worker in Greece faced a tax wedge of 39.3% in 2015 compared with the OECD average of 35.9%.
The tax burden on labour income is expressed by the tax wedge, which is a measure of the net tax burden on labour income borne by the employee and the employer.
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In the last 25 years Greece turned from an emigration to an immigration country. Today the country is faced with an unprecedented humanitarian crisis with the arrival of close to 950,000 people between January 2015 and February 2016.
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The state continues to exercise considerable influence on the Greek economy. According to the OECD’s Product Market Regulation indicator, Greece has one of the highest degrees of state control in the productive sectors across OECD countries.
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Public health spending in Greece fell by a third in real-terms between 2009 and 2013, with severe cuts across the board and changes to entitlement, benefits and user charges.