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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.
Tax revenues continue bouncing back from the low levels reported in almost all countries during 2008 and 2009, at the height of the global economic crisis, according to new OECD data in the annual Revenue Statistics publication. This annual publication presents a unique set of detailed and internationally comparable tax revenue data in a common format for all OECD member countries from 1965 onwards.
Individual country notes assessing how regions and cities contribute to national growth and the well-being of society.
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.
Restoring growth, making it sustainable and dealing with social costs are essential to the success of the adjustment programme in Greece. To this end, accelerating and broadening the structural reform programme is key.
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.
The government and citizens of Greece continue their arduous efforts to put the economy back on a sustainable path, despite seemingly insurmountable challenges. The implementation of reforms is key to getting through this tough period and ultimately equipping people with the tools they will need to share the benefits of growth, said OECD Secretary-General.
We know that Greece is undergoing a profound and painful economic adjustment, but we are convinced that continuing down the path of ambitious reform will ultimately see a return to robust, broad-based growth that will improve the well-being of all Greek citizens, said OECD Secretary-General.
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.