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Greece Economic Snapshot

Economic Forecast Summary (June 2022)

The recovery is expected to slow in 2022. Surging global prices, heightened uncertainty and tightening monetary conditions will be partly offset by disbursements of Greece’s recovery and resilience plan, fiscal support to households and firms, and rising exports and investment. Employment growth is expected to pause temporarily as employers face higher uncertainty, difficulties in hiring workers with relevant skills and rising wages. While supply pressures have risen, remaining spare capacity will dampen price pressures.

Priorities (April 2021)

Going for Growth 2021 - Greece

The COVID-19 crisis adds urgency to addressing Greece’s long-standing challenge of boosting investment and productivity to diversify the economy and improve job creation. Despite continued progress in reform efforts, such as digitalising the public administration, red tape, low-quality regulations, and a slow justice system mar the business environment. Coupled with significant gaps in the workforce’s skills, these inhibit firm growth and discourage innovation and investment.

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2021 Structural Reform Priorities

  • Improve investment climate: Enhance efficiency and effectiveness of public administration and the legal system
  • Financial system and investment: Restore banks’ health and improve the execution of the public investment budget
  • Labour market: Strengthen active labour market programmes
  • Education and skills: Improve the quality of childhood education, schools and tertiary education
  • Social protection: Modernise programmes, targeting and administration

 

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Economic Survey of Greece 2020

Executive Summary

Presentation