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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.
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Despite moderate signs of recovery across many OECD countries in 2014, the unemployment rate in Greece remains stuck at close to its highest level since the onset of the economic crisis (27.2% as of May 2014). OECD projections suggest that the expected joblessness rate in Greece will remain high (around 27%) through to the end of 2015.
Specific country notes have been prepared using data from the database OECD Health Statistics 2014, June 2014 version. The notes are available in PDF format.
Greece could save its businesses hundreds of millions of euros a year and improve their competitiveness by reducing administrative burdens, according to a new OECD report.
The average worker in Greece faced a tax burden on labour income (tax wedge) of 41.6% in 2013 compared with the OECD average of 35.9%. Greece was ranked 11 of the 34 OECD member countries in this respect.
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.
The Greek government and the OECD are working together to assess the costs and benefits of regulations restricting competition in the tourism, retail trade, food processing and construction materials sectors and to propose specific recommendations for change.
An 11-month investigation by the OECD in cooperation with the Greek authorities has identified a wide range of regulations and legal provisions that undermine competition.
Greece has made impressive headway in consolidating its public finances and undertaking key structural reforms to boost productivity and enhance competitiveness.
We understand how much Greek society has endured these past six years. Reform isn’t easy at the best of times, but it can be even more challenging in the face of a weak economy while at the same time trying to correct a budget deficit. But all crises come to an end. Growth does return. Now is the time to maintain the momentum of Greece’s reform drive, said OECD Secretary-General.