ECONOMY

ELKE more hopeful on economy

The Hellenic Center for Investment (ELKE) said Greece’s competitive position was not as bad as suggested by the 2003 annual report of the International Institute for Management Development (IMD), presented on Tuesday. ELKE said that Greece’s fall from 21st to 26th place in terms of competitiveness among 29 countries and regions with less than 20 million inhabitants was only due to the fact that the relevant table included, separately for the first time, five developed regions of Germany, France and Italy, which were placed higher than Greece. ELKE noted that Greece showed improvement in certain indicators of competitiveness: macroeconomic performance improved 5.8 percent, efficiency of government policy by 85 percent, business environment by 45.5 percent and infrastructure by 36.2 percent.