BUSINESS

Reforms have had small impact on specific markets

DIMITRA MANIFAVA

TAGS: Economy

The impact of specialized reforms in certain sectors in recent years, aimed at liberalizing markets, remains limited according to a survey by the Foundation for Economic and Industrial Research (IOBE).

The positive results of lifting barriers have been overshadowed by the adverse macroeconomic environment, while in some cases the application of the relevant regulations was late due to delays in necessary sector-specific legislation.

Horizontal reforms have proved much more effective, particularly changes aimed at rendering the labor market more flexible and those related to facilitating entrepreneurship, such as making it easier to start a business.

The survey gauged the impact of reforms in the sectors of road cargo transport, road passenger transport, the production and sale of electrical energy, cruise tourism and recreational vessels, and casinos and games of chance.

Out of the five sectors studied passenger transport appears to be the one to have benefitted the most, with two significant barriers lifted by interventions to the law passed in 2011, the IOBE survey has shown. Casinos and games of chance have enjoyed the smallest benefit.

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