BUSINESS

IMF: Greece requires more growth-friendly policy mix

TAGS: Economy

Greece has achieved great fiscal consolidation, but should now seek to change the policy mix to one that better supports economic growth, the head of the International Monetary Fund’s European Department, Poul Thomsen, said on Friday.

“Greece has done extremely well in terms of fiscal consolidation, but the fiscal policy mix is growth-unfriendly,” Thomsen said.

He stated that Greece had to carry on with reforms to free up resources to modernize its economy, to invest, to do tax reforms, and to restore public spending that has been compressed to exceptionally low level during the crisis.

[Reuters]

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