EASE: The Greek economy needs a good economic climate and international investment

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“The budget that was recently voted in Parliament, gives the picture of a year where the fiscal balances must be restored with speed and reliability in order to achieve the investment level as soon as possible.” This is what the Company of Senior Business Executives points out in its position regarding the budget vote by the Greek Parliament last Saturday.

According to EASE, “the Greek economy needs a good economic climate and mainly international investments to make up for lost time, and the development of the private economy in particular to produce many well-paid jobs which are the ones that will eventually keep our young people at home “.

He also notes that the Greek economy is growing with a dynamic trend and with a perspective for the current year to approach even 8.5-9%. About as much as it lost last year of the pandemic, due to its rapidly growing sectors such as tourism, manufacturing, exports and the real estate market. At the same time, the private sector is becoming a protagonist of this recovery and companies, in many cases, have shown remarkable resilience and adaptability. “From now on, the demand is, as the support measures are withdrawn, that the companies, assisted by the funds of the recovery fund, fulfill their obligations and continue the dynamic course,” he notes.

EASE acknowledges that “positive steps have been taken in recent years that have helped and unleashed positive forces in the private sector of the economy and business in particular.” In particular, a number of laws such as bankruptcy, employment, licensing and business placement, clearing of banks’ balance sheets from non-performing loans, most importantly, have all played an overall positive role.

According to EASE, “the image of the Greek economy has also been upgraded internationally and the country seems to be in a better position institutionally and organizationally to utilize, we hope much more efficiently this time the expected investment funds”.

The EASE, however, points out, in addition to the risk of a pandemic resurgence, the risk of ever-increasing inflation. As he emphasizes: “Companies and its executives are seeing day by day large increases in raw materials and intermediate goods, a fact that could lead, if this continues throughout the next year, to a slowdown in economic growth. As inflation is imported, Greek companies do not have the ability to deal effectively with the phenomenon. For this reason, the Government should hasten the completion of the necessary conditions in order to activate soon the payment of the capital resources of the Recovery and Resilience Fund “.

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