Ailing economy

COMMENT

The leftist-led government is struggling to convince voters that the Greek economy has started to show an upward trend, but data provided by experts provide a different picture.

The fact is that serious investors are still shying away from the local market. At the same time, small investors are mostly setting up bars, cafes and restaurants. In other words, they are investing in a business sector that makes zero contribution to advancing the country’s economic competitiveness.

Meanwhile, the weekly bulletin of the Hellenic Federation of Enterprises (SEV) on the state of the Greek economy points out that the combination of excessive taxation and the drops in bank deposits and disposable incomes is very bad news for sustainable growth.

No economy can be considered healthy when its well-being is based on surpluses which, in turn, derive from exorbitant taxation and a freeze on state payments.

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