Saturday November 1, 2014 Search
Weather | Athens
18o C
13o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Greece aims at saving 7 bln euros by cutting red tape

Greece's slow and burdensome bureaucracy is estimated to cost the cash-strapped country a total of 14 billion euros a year, or 6.8 percent of gross domestic product (GDP) -- almost double the European Union average of 3a.5 percent -- according to conclusions of a recent meeting between Administrative Reform Minister Antonis Manitakis, Development and Competitiveness Minister Costis Hatzidakis and a team from the Organization for Economic Cooperation and Development (OECD) in Athens.

The OECD has sent a team of advisers to Athens to work with the government on cutting red tape, with the aim of reducing bureaucracy by 25 percent by the end of 2013, which would mean savings of as much as 7 billion euros.

In a deal signed between Manitakis, Hatzidakis and the OECD, the Paris-based organization will undertake an inspection of 13 crucial sectors before making recommendations on how red tape can be reduced in order to cut administrative and legislative costs, and to boost the country's flagging competitiveness.

The sectors that will come under scrutiny include the energy market, agricultural subsidies, public contracts, telecommunications, tourism and the pharmaceutical market, as well as taxation laws.

The government signed two separate agreements with the OECD team, one on curbing administrative costs and the other on measures for boosting competition.

According to the latter, the OECD will propose measures for more competitive pricing policies, boosting consumer choice, reversing attitudes that work against competition, encouraging investment and boosting exports, Hatzidakis said following the signing ceremony.

The aim of the agreements, according to Manitakis, is to slash by 80 percent the cost of administrative red tape, with a 25 percent reduction by the end of 2013 and savings of 2.4 percent of GDP by 2025.

The first phase of the program will be completed by April next year and the second phase by September.

ekathimerini.com , Monday December 3, 2012 (14:11)  
Disposable income of households fell 10.3 pct in one year
Banks unhappy with bad loans bill
State debtor numbers grew in September
Reform plan among conditions
Ministry swap halts talk of reshuffle as reforms eyed
Prime Minister Antonis Samaras on Friday appointed Nikos Dendias as defense minister, replacing outgoing Dimitris Avramopoulos, who assumes the European Commission’s immigration portfolio ne...
Turkish-Greek cooperation in Aegean helps stem flow of migrants
Closer cooperation between Greek and Turkish coast guard authorities has led to 11,000 undocumented migrants being prevented from entering Greek borders and returned to the neighboring count...
Inside News
BASKETBALL
Spanoulis played Zeus for Olympiakos against Neptunas
Captain Vassilis Spanoulis helped Olympiakos narrowly avoid an upset on Friday as it defeated Euroleague debutant Neptunas Klaipeda 85-81 in overtime in Lithuania to preserve its perfect sta...
BASKETBALL
Obradovic watches Greens thrash his Fenerbahce
The second homecoming of former Panathinaikos coach Zeljko Obradovic, now at Fenerbahce, was not as emotional as last year’s, but it was certainly was the night of an emphatic triumph for th...
Inside Sports
COMMENTARY
The judiciary’s responsibility
The reform efforts over the past few years have begun to bear fruit. Greece has improved its standing in the World Bank’s Doing Business rankings, rising 48 positions from 2010 to 61st place...
EDITORIAL
Findings raise eyebrows
An investigation into money transferred to foreign banks by civil servants since 2010, when Greece’s brutal debt crisis erupted, has come up with some striking findings. The checks, which we...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Spanoulis played Zeus for Olympiakos against Neptunas
2. Disposable income of households fell 10.3 pct in one year
3. Banks unhappy with bad loans bill
4. State debtor numbers grew in September
5. Reform plan among conditions
6. Ministry swap halts talk of reshuffle as reforms eyed
more news
Today
This Week
1. Archaeologists find underground vault at Amphipolis tomb
2. Man shot dead, woman injured in Vathis square attack
3. Greek retail sales rise for third month in a row
4. Cyprus’s Georgiades bets on economy for Irish-style bailout exit
5. Germany’s 10-year bonds decline before euro-area inflation data
6. New defense minister to be appointed without reshuffle
Today
This Week
1. Austria’s creative bookkeeping beats Greece on secret debts
2. End of reason, end of humanity
3. Clean bill of health for Greek banks from stress tests
4. Samaras pledges action after flash floods in Athens
5. Eurobank, National Bank restructurings eliminate capital gap
6. Athens flood damage assessed, compensation payments to begin
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.