In its latest Annual Report Bank of Greece expects GDP growth to
be positive in 2015 and to pick up in 2016.
The main
elements of uncertainty weighing on the prospects for economic activity in the
medium term :
- Ability to fulfil the transitional agreement struck with our partners,
- A possible deterioration in public finances
- Reform fatigue.
Drivers:
- exports of goods and services and
- by private consumption and
- rising business investment. (through infrastructure projects)
- favourable impact will come from the execution of projects under the Public Investment Programme with an overall budget of €6.4 billion for 2015.
The practicable measures that would pave the way for success :
(a)
Completing the reforms already launched, pursuing structural reforms in the
goods and services markets and developing a “smart economy”.
(b)
Consolidating fiscal achievements.
(c)
Reviewing tax exemptions and other favourable tax treatment.
(d)
Lowering tax rates and reviewing the efficiency of public spending.
(e)
Increasing public sector efficiency.
(f)
Strengthening active labour market policies and reducing the number of
unemployed.
(g)
Effective management of non-performing loans (NPLs).
(h)
Securing the smooth financing of the Greek economy.
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