Stournaras: Delaying the review calls into question the targets for 2017
The delay in the completion of Greece’s second program review calls into question all the targets set for 2017 on growth, fiscal and financial issues, Bank of Greece governor Yannis Stournaras said on Monday (27/03/2017) speaking at a conference organized by the Parliament’s Budget Office.
He said that by achieving a primary surplus of 2 percent in the 2016 budget, the country has covered 90 percent of the distance required until 2018.
Commenting on the prospects for growth, the central banker stressed the importance of foreign direct investments noting they were at 24 percent of the GDP before the economic crisis while today they are hovering around 11 percent.
To achieve the new growth model by highlighting sectors as drivers of economic growth and attracting foreign direct investment it is essential to create an appropriate business framework, he said, adding that significant steps have been taken in this direction.
“The reforms implemented during the crisis are expected to enhance the growth potential of the Greek economy in the medium to long-term. So as the economy returns to growth, employment growth and productivity will be higher than if no reforms had been implemented,” he said.
You may be interested
Lotto results: 19/09/2018Panos - Sep 19, 2018
The winning numbers from the Lotto draw are as follows:
The fiasco of the “Silver Arrow” train at the 2018 TIF which returned to Italymakis - Sep 19, 2018
“Silver Arrow”, the high-speed train operated by Italian-owned TRAINOSE which was presented with great fanfare at the 2018 Trade Fair…
George W. Bush letter to FYROM citizens urges them to accept Prespa Agreementmakis - Sep 19, 2018
Former US President George W. Bush sent a public letter addressed to the citizens of FYROM in which he urged…