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Athens Macedonian News Agency: News in English, 13-12-17
CONTENTS
[01] BoG governor calls for political stability
[01] BoG governor calls for political stability
Greece is expected to return to growth in 2014, the Bank of Greece
(BoG) said in its interim report for monetary policy on Tuesday.
According to the report, tabled in parliament by BoG governor George
Provopoulos, Greece's GDP will grow by 0.5 percent in 2014, while
unemployment will fall by one percentage point.
However, Provopoulos warned of risks and uncertainties due to the
polarized political climate, underlining the importance of a stable
economic policy focused on structural changes. He also said that fiscal
adjustment cannot rely anymore on tax increases and that tax payers
should be relieved.
He also recommended speeding up efforts for restructuring the public
sector through shutdowns or mergers of public organizations and
businesses, imposing better expenditure control mechanisms for both public
entities and social security funds so as to ensure the sustainability of
the pension system, the reform and modernization of the judicial system
as well as improving tax administration and tax collection mechanisms
for combatting tax evasion and establishing a climate of social justice.
The Bank of Greece governor also stressed the need for speeding
up privatisations to boost the business climate and attract foreign
investments. Regarding developments in the banking system, Provopoulos
noted that following recapitalization, banks will have enhanced credit
ability in the medium term.
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