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.
Poor skills severely reduce a person’s chance of a better-paying and more-rewarding job, and have a major impact on how the benefits of economic growth are shared within societies. In countries where large shares of adults have poor skills, it is difficult to introduce productivity-enhancing technologies and new ways of working, which stalls improvements in living standards, according to a new OECD report.
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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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).
The Secretary-General presented the 2016 Economic Survey of Greece alongside Prime Minister Alexis Tsipras and held meetings with Greek ministers and officials.
The 2015 edition introduces more detailed analysis of participation in early childhood and tertiary levels of education. The report also examines first generation tertiary-educated adults’ educational and social mobility, labour market outcomes for recent graduates, and participation in employer-sponsored formal and/or non-formal education.
Biographical note of the Permanent Representative of Greece to the OECD.
Specific country notes have been prepared using data from the database OECD Health Statistics 2015, July 2015 version. The notes are available in PDF format.