Economic Survey of Greece 2018

OECD iLibrary subscribers can access this title through the ESO Source url hyperlink.

Non-subscribers can sometimes access a free access read only version, or read an extended summary of the source, through the ESO related url hyperlinks.The OECD published its latest Economic Survey of Greece in April 2018. After significant reforms, Greece’s recovery from deep economic depression was finally gaining traction, according to the OECD. Economic growth was picking up led by exports. Labour market reforms had improved competitiveness and was helping to create long-awaited jobs. GDP growth was projected to strengthen, remaining above 2% in 2018 and 2019.

The OECD recognised the remarkable reform effort of the past two years. The study highlighted that the credibility of public finances had markedly strengthened, after an unprecedented fiscal consolidation, boosting investors’ confidence in the country’s prospects.

Despite these positive developments, unemployment, poverty and inequality remained high, wages were low, investment remained depressed and productivity kept falling. At the same time, the public administration was still facing important efficiency challenges, and while tax collection had improved, avoidance was widespread, resulting in high rates and narrow bases. Addressing these and other challenges would crucially depend on the continuation of the reform effort and strengthening reform ownership.

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OECD: Economic Surveys: Greece http://www.oecd.org/economy/economic-survey-greece.htm

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