Eurostat: Greek macroeconomic indices showing a return to normalcy
Greece’s recession-battered economy is showing significant improvement in Stability Pact macroeconomic indices, 10 months before a scheduled end of the third bailout for the country.
According to Eurostat, the figures show a return to normalcy for the country, as foreseen by the Stability Pact.
Specifically, Greece appears to meet the target for an average three-year balance of trade deficit, posting a figure of 1 percent in its balance of trade, compared with GDP, while the maximum acceptable level is 4 percent of GDP.
In terms of productivity and competitiveness, the median nominal labor cost decreased in 2016, compared to 2013, by 3.3 percent.
A structural imbalance is considered as any labor cost increased by more than 9 percent.
Finally, in 2016 private debt was equal to 124.7 percent of GDP, when the maximum ceiling allowed is 133 percent.
You may be interested
Erdogan: “84 million Turks will continue to defend Jerusalem” (video)Panos - May 18, 2021
Turkish President Recep Erdogan unleashed an unprecedented attack on US President Joe Biden on the occasion of the approval given…
All coronavirus vaccines in Greece available to citizens aged 40-44 as of Friday, says health expertPanos - May 18, 2021
Citizens aged 40-44 will be able to book vaccination appointments for any of the coronavirus vaccines currently available in Greece…
Dendias will be the first EU FM to visit Israel and Palestine since the start of the crisisPanos - May 18, 2021
Greece as pillar of stability and champion of promoting security and prosperity in the wider region is actively involved in…