ECONOMY

Red tape cuts into part of exports’ value

red-tape-cuts-into-part-of-exports-value

Greek goods exports incur losses of 12.6 percent – which based on 2018 figures amounts to 4.21 billion euros – from delays in exporting procedures, according to a study by EY Greece for the Athens Chamber of Commerce and Industry (EBEA).

Reducing red tape, as well as implementing a series of structural reforms in the exporting sector – so that the institutional framework can converge with the average level of the member-states of the European Union and the Organization for Economic Cooperation and Development – could see Greek exports increase by up to 33 percent and take their contribution to gross domestic product up to 5 percent.

The malfunctioning civil administration comes on top of the fragmentation of the production base into many small enterprises, said EBEA President Constantinos Michalos at the study’s presentation on Thursday in Athens.