The survey, entitled "The role of structural reforms and the prospects of the Greek economy," was presented on Tuesday by seven largest bilateral chambers in the country. It examines data, presents challenges, reflects the progress made and highlights the priorities of the Greek economy and the direct actions that are needed in order to continue and complete the necessary reform projects which will signal the country's entry into a new growth cycle.
The survey said that the Greek economy showed signs of stabilisation after six years of deep and prolonged recession, with balance returning both in the fiscal sector and in the country's external balance, restoring confidence in markets. It noted, however, that a risk that the Greek economy could not achieve its necessary high growth rates and the necessary primary surplus still existed, which could prolong limitations on borrowing, while a further weakening of domestic saving could now spur consumer spending, leaving the country's growth in the hands of exports and direct investments.
The basic preconditions for growth are promoting a regulatory framework of efficient governance and justice, upgrading the domestic business environment and strengthening Greek economic competitiveness. The survey noted that some reforms in this direction have been already implemented in the framework of an existing economic policy program.
The survey noted that priorities should be a fundamental change of mindset and operation of the economy, focusing on innovation and business activity, transforming a production basis by promoting its comparative advantages and implementing reforms. The role of bilateral chambers is crucial towards this effort as they link Greek enterprises with the country's largest trade partners abroad. (AMNA)
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