Image default
Greek News

European Commission issues positive report on Greece

The European Commission (EC) published its fourth post-bailout enhanced surveillance report for Greece on Wednesday, which paves the way for the disbursement of 767 million euros in Eurozone central bank profits from Greek bond holdings (SMPs and ANFAs). A final decision is expected at a Eurogroup meeting next month.

The EC report says “Greece has taken the necessary actions to achieve its specific reform commitments for mid-2019”, while pointing out that the new Greek government has advanced a “broader reform agenda” and shown willingness to prepare its reform commitments in close cooperation with the institutions.

According to the report, growth in Greece is forecast to remain resilient, reaching 1.8 percent in 2019 and 2.3 percent in 2020, despite external headwinds, while unemployment continues to decline at a steady pace to around 17 percent this year and 15 percent in 2020.

The Commission projects that the primary surplus target will be attained both this year and next (reaching 3.8% and 3.5% of GDP respectively). In fact, 2019 is the fifth year in a row when targets would be exceeded. As a result, the EC confirms the adoption of new growth-friendly measures worth 0.6% of GDP aimed to reduce distortionary taxes and increase family-oriented social benefits.

Read more: balkaneu

Σχετικα αρθρα

EC approves Greek NSRF 2021-2027 worth €26 bln

admin

Rail Freight: More rail freight through Greece: Is it feasible? – Analysis

admin

Greek real estate market still strong despite Covid-19 pandemic, report shows

admin

The Most Expensive m² of Prime Property in the World (infographic)

admin

The World’s Most Expensive City For Construction (infographic)

admin

Recovery Fund: Signatures for the first 17.8 billion Euros

admin

Eurobank buys 9.9% stake in Hellenic Bank of Cyprus

admin

Bill Gates and George Soros reportedly team to buy UK Coronavirus Testing Company

admin

Covid-19 lockdown and curfew to be lifted in Mykonos

admin

$98 billion was wiped off as Bitcoin drops below $30,000

admin

IMF: Growth of 3.3% this year for Greece & jump to 5.4% for 2022

admin

Eurostat: Poverty risk in the EU – Where is Greece (infographic)

admin