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Athens News Agency: News in English, 07-05-22

Athens News Agency: News in English Directory - Previous Article - Next Article

From: The Athens News Agency at <>


  • [01] FinMin lauds economic performance

  • [01] FinMin lauds economic performance

    Economy and Finance Minister George Alogoskoufis on Tuesday expressed his satisfaction with the country's economic course, saying data for economic growth was very satisfactory, with GDP growth rates at 4.6 pct in the first quarter of 2007 exceeding all forecasts.

    Speaking to reporters, the minister said the 4.6-pct growth rate was evidence of strong economic growth and noted that the most important thing was that economic growth was based on exports and investments and not on consumption.

    Alogoskoufis said this year's budget was moving within set targets and forecast that the country's public debt would fall to 100 pct of GDP this year, down from 108.5 pct in 2004 and 104.6 pct in 2006. The fiscal deficit was expected to fall to 2.4 pct of GDP this year, from 2.6 pct in 2006, he said. He underlined that all figures would change after the revision of the country's GDP and noted that unemployment rate was expected to fall to 8.0 pct of the workforce this year, down from 10.5 pct in 2004 and 8.9 pct in 2006.

    The inflation rate fell to 2.6 pct in the first four months of 2007, down from 3.3 pct in the corresponding period last year.

    He also reiterated that the government must remain on alert to successfully execute this year's budget and to achieve further improvements in the real economy.

    Alogoskoufis presented draft legislation aimed to reform the customs code and reforming an existing law on sale and lease-back of real estate assets owned by the state. The Greek minister said the government was expected to table more draft laws in Parliament soon, such as a draft law on combatting tax evasion, combatting poverty and harmonizing financial markets.

    Athens News Agency: News in English Directory - Previous Article - Next Article
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