Increasing Greek GDP by 30 billion euros over the 2017-2020 period and finding work for some 280,000 currently registered jobless individuals in the recession-battered country during the same time is the goal of the midterm fiscal strategy program up until 2020.
Increasing Greek GDP by 30 billion euros over the 2017-2020 period and finding work for some 280,000 currently registered jobless individuals in the recession-battered country during the same time is the goal of the midterm fiscal strategy program up until 2020.
The program is expected to be tabled in Greece’s Parliament by the autumn, and serves as a memorandum-mandated prior action ahead of any successful conclusion of the second review of the Greek program (third bailout).
The primary macro-economic forecasts for the Greek economy during the period have been repeatedly presented, while finance ministry officials have until Aug. 8 to complete preparations for revenue portion of the 2017 state budget.
The program, as previously reported by “N”, foresees a recession rate of 0.3 percent for the current year, switching to a 2.7-percent growth rate in 2017.
The ambitious forecast for the coming year is primarily based on an increase in investments, even in the now wholly depressed construction sector in the country, and less on an increase in consumption. At the same time, public sector consumption is expected to continue to decrease through 2020.