Stournaras: Delaying the review calls into question the targets for 2017

28 March 2017
614 Views

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

Greece: Intelligence Services arrest 3 Turks with fake Interpol IDs trafficking illegal immigrants to Europe
DEFENCE
shares15 views
DEFENCE
shares15 views

Greece: Intelligence Services arrest 3 Turks with fake Interpol IDs trafficking illegal immigrants to Europe

Panos - Jun 22, 2021

They were moving around in the center of Athens with Interpol IDs. They spoke five languages, had thousands of euros…

Greece: A single-engine plane crashed in the village of Charia in Ilia – Two dead
GREECE
shares13 views
GREECE
shares13 views

Greece: A single-engine plane crashed in the village of Charia in Ilia – Two dead

Panos - Jun 22, 2021

A tragic accident took place in Haria in Ilia on Monday afternoon, when a private plane that had taken off…

BBC: The last speakers of Ancient Sparta
GREECE
shares13 views
GREECE
shares13 views

BBC: The last speakers of Ancient Sparta

Panos - Jun 22, 2021

As you enter the mountainous village of Pera Melana in Greece’s southern Peloponnese peninsula, you’re likely to hear the roar of…

Leave a Comment

Your email address will not be published.