Saturday September 20, 2014 Search
Weather | Athens
27o C
19o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Seven keys seen for recovery

 Top research center stresses political stability, reforms – especially privatizations – and tackling corruption

The recovery of the Greek economy, which is already under way, depends on seven key factors outlined by the country’s respected Center of Planning and Economic Research (KEPE) in a report released on Wednesday.

These are listed as political stability, a comprehensive development plan with short- and long-term targets, the continuation of the promotion and adoption of the necessary structural reforms, the modernization of public administration and the judicial system, an overhaul of the tax system to fight tax evasion, cuts in red tape and administrative costs, and tackling corruption.

According to the report, the goal of maintaining the stabilization of public finances in 2014 seems attainable but important constraints are posed by political disagreements as regards structural reforms, the results of European stress tests on Greek banks and nonperforming loans.

KEPE’s “fear index” regarding the Greek economy, which stood at 35.26 percent on July 15, was slightly higher than the average for the period since January 1, 2004 (34.5 percent). This is taken to reflect the continued rebound in confidence in the Greek economy and stock market, as well as favorable investor expectations regarding the derivatives market.

Liquidity for enterprises remains an important problem, the report notes. The gradual restoration of normal financing conditions depends largely on the successful restructuring and recapitalization of banks, and dealing with the problem of nonperforming loans, given the high cost of financing.

In a report on the financing of the private sector, the Task Force for Greece made special mention of the founding of an Institution for Growth, while also pointing out that more than 3 billion euros in European Union subsidies is available through programs for bolstering entrepreneurship. However, only 463 million seems to have been disbursed so far.

KEPE also notes considerable delays in the privatizations program, where the revised target of 1.5 billion euros for 2014 (from 2.7 billion) also appears in doubt. It is important that such delays are overcome, as privatizations, beyond the fiscal and financial benefits, will contribute to investment and the inflow of long-term capital.

ekathimerini.com , Wednesday August 6, 2014 (21:50)  
Record sum of new debts to the state in August
‘Greece can meet its needs on its own’
Cyprus civil servants´ strike called off
Elliniko investors eye Cyprus project warily
Mayors resisting evaluation to face disciplinary action
Mayors and municipal employees who refuse to take part in a civil service evaluation scheme the government has undertaken as part of commitments to international creditors will face discipli...
Fyssas rally demonstrators face prosecutor after clashes
Sixty-four people arrested in Keratsini, a suburb of Piraeus, on Thursday, following clashes with police during an anti-racist march marking the one-year anniversary of the murder of rapper ...
Inside News
SOCCER
Triumph for PAOK, historic result for Asteras in Europa League
Greek teams produced a patchy record on the opening night of the Europa League group stage on Thursday, as PAOK thrashed Dynamo Minsk, Asteras Tripolis snatched a draw at Besiktas and Panath...
SOCCER
Financial crisis forces Greek second division postponement
Greece's second soccer division Football League announced on Wednesday the postponement of the start of the season due to financial difficulties being faced by most clubs. "The board of dire...
Inside Sports
COMMENTARY
High stakes after the Scottish vote
We will soon know whether the Scots voted for their country’s independence or whether they will remain citizens of the “United Kingdom of Great Britain and Northern Ireland.” What was alread...
EDITORIAL
Breathing room
Even Greece’s biggest critics find it hard to deny that the debt-hit country has achieved an unprecedented fiscal turnaround within a very short period of time. Sure, progress in promoting t...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Record sum of new debts to the state in August
2. ‘Greece can meet its needs on its own’
3. Mayors resisting evaluation to face disciplinary action
4. Fyssas rally demonstrators face prosecutor after clashes
5. PM in energy talks ahead of crucial meeting with Merkel
6. Attiki Odos Lamia exit to close Sunday
more news
Today
This Week
1. ‘Greece can meet its needs on its own’
2. Record sum of new debts to the state in August
3. Hardouvelis signals Greece may skip IMF loans to exit aid curbs
4. EIB signs deals with Greece for 815-mln investment in infrastructure projects
5. Dozens of arrests at march to mark anniversary of Fyssas murder
6. Syntagma metro station to close for Fyssas tribute concert
Today
This Week
1. Greece on standby
2. Greece at bottom of social justice scale among EU28
3. Central Athens traffic restrictions back in force on Monday
4. Lost in the fog
5. Democracy under Pressure | Live Streaming
6. SYRIZA spokesman suggests gov't sought to stop NERIT airing Tsipras speech live
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.