Displaying items by tag: greek economy

After the new successful exit to markets, government and financial staff formally enter the critical path of “confirmation of high expectations” both on the vaccination front and as concerns optimism for the course of the economy. The next two months are an important “bridge” to the post-pandemic era: businesses and government funds are entering a new phase with the main feature of breaths of liquidity – after the suffocation of lockdowns.

The National Recovery and Resilience Plan is a well thought-out roadmap that has 170 projects, investments and reforms, Prime Minister Kyriakos Mitsotakis said on Wednesday, during a presentation of the plan. It is based on four pillars: the digital transition of the state and the economy, increasing employment and social cohesion, the green economy, and rapid growth of productive activity. This is a project that covers all of Greece, concerns every Greek man and woman, and which aspires to create 200,000 jobs but also to increase GDP by 7.0 points in the next six years, Mitsotakis said.

Estimates of a 10 pct economic contraction this year were excessive, Bank of Greece governor Yannis Stournaras said on Tuesday, and noted he expected the country’s GDP to shrink by 8.0 pct under the worst-case scenario.