ECONOMY

Two vital sectors

If it were not for tourism and shipping, Greece’s current account deficit would have been catastrophic and the country’s credit rating would certainly decline, tourism research institute ITEP claimed yesterday. At the same time, says ITEP, these two crucial sectors have to face the State’s indifference, even hostility. It claims that without the contribution of the two sectors, GDP growth rate would be zero, despite the massive inflow of European Union funds, especially through the three Community Support Framework programs to date. ITEP considers that, with the exception of the abovementioned sectors, the Greek economy is far too sluggish and that only generous support of tourism and shipping will allow the country to maintain a high GDP growth rate and converge with the other EU members.