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.
The 2015 edition of National Accounts of OECD Countries, General Government Accounts is an annual publication, dedicated to government finance which is based on the System of National Accounts 2008 (SNA 2008) for all countries except Chile, Japan, Korea and Turkey (SNA 1993). It includes tables showing government aggregates and balances for the production, income and financial accounts as well as detailed tax and social contribution receipts and a breakdown of expenditure of general government by function, according to the harmonised international classification, COFOG. These detailed accounts are available for the general government sector. Data also cover the following sub-sectors, according to availability: central government, state government, local government and social security funds.
The data in this publication are also available on line via www.oecd-ilibrary.org under the title OECD National Accounts Statistics, General Government Accounts (http://dx.doi.org/10.1787/na-gga-data-en and http://dx.doi.org/10.1787/na-gga08-data-en).
It is very important to put this study in context. During the past six years, Greece has gone through an unprecedented and very painful contraction. It is hard to think of any other OECD country that has experienced such economic hardship in recent times.
Boosting economic growth and investment to create jobs, improve the stability of public finances and provide an effective social safety net are crucial to help Greece recover from the profound social costs of the economic crisis, says the OECD in its latest report.
Greek Prime Minister Alexis Tsipras will meet OECD experts led by Secretary-General Angel Gurría in Paris on Thursday 12 March to discuss Greece’s reforms.
Mr. Angel Gurría, Secretary-General of the OECD, was in Athens on 10-11 February 2015 on an official visit to Greece.
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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.
Meeting Greece’s Minister of Development and Competitiveness Mr. Kostas Skrekas today, OECD Secretary General Angel Gurría said the Greek government’s reform programme was already showing positive results.
Poverty and income inequality have worsened since the onset of the crisis. While the design of fiscal measures has mitigated the burden sharing of fiscal adjustment, as the recession has deepened unemployment has risen, earnings have declined and social tensions have increased.