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The amount is equivalent to more than 15% of the entire Greek economy and involves over 100 investment streams and 75 reforms, with about 60% geared toward the green transition and digitization.
ATHENS (Reuters) -Greece's economy is projected to grow at a slower pace next year after a strong rebound this year thanks to tourism, as soaring energy costs and inflation are expected to curb ...
Greek Prime Minister Kyriakos Mitsotakis is expected to unveil plans on Saturday to increase pensions, reduce social security contributions and improve public services in an effort to win back ...
The economy of Greece is the 52nd largest in the world, with a nominal gross domestic product (GDP) of $252.732 billion per annum. [5] In terms of purchasing power parity, Greece is the world's 54th largest economy, at $436.757 billion per annum. [5]
The Greek economy was one of the Eurozone's fastest growing from 2000 to 2007, averaging 4.2% annually, as foreign capital flooded in. [59] This capital inflow coincided with a higher budget deficit. [36] Greece had budget surpluses from 1960 to 1973, but thereafter it had budget deficits.
In a discussion with Nobel laureate Joseph Stiglitz on invitation of U.S. economic think tank Institute for New Economic Thinking, Varoufakis stated on 9 April 2015 that "the Greek state does not have the capacity to develop public assets." Therefore, he announced that his government was "restarting the privatization process."
This event was preceded of the First Economic Adjustment Programme for Greece known as memorandum. The package emerged after the rapidly rise of Greek/German 10-year debt yield spread and the downgrading of Greek economy by all United States of America's nationally recognized statistical rating organizations.
Despite an economic recovery after a decade of pain, wages in Greece are still below the European Union average. Mitsotakis has attributed the "protest" vote to the high cost of living.