Overtaxation and reform delays taking toll on exports growth


Bank of Greece Governor Yannis Stournaras stressed at a conference on Friday that exports are likely to grow and help the economy expand further in the coming years, adding that overtaxation is one of the main factors limiting the competitiveness of enterprises and the economy in general.

"The difficulties that persist in financing enterprises, the delays in the necessary reforms and the overtaxation that slows or interrupts progress toward the restoration of overall competitiveness are containing the growth of the export base, as they do not allow Greek companies to make the most of the opportunities arising in international markets," the central banker said.