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Athens News Agency: News in English, 07-12-04

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From: The Athens News Agency at <>


  • [01] FinMin satisfied over economic conditions

  • [01] FinMin satisfied over economic conditions

    Greek Economy and Finance Minister George Alogoskoufis in Brussels on Tuesday expressed his satisfaction over the condition of the Greek economy and said it growth was not directly affected by international uncertainties over the price of oil and developments in capital markets.

    Speaking to reporters, after an ECOFIN meeting, Alogoskoufis called for alertness to deal with any inflationary pressures in the economy. ?We have the Competition Commission and discussions made between Development ministry and representatives of industry and commerce sectors to better deal with inflationary pressures coming from abroad. These pressures do not come from the domestic market, but from abroad. They are the result of high oil and food prices. We have one positive thing against this, a strong euro currency that moderates the impact on prices,? he noted.

    The Greek minister said economic growth in Greece will remain strong mainly due to community funds from a Third and a Fourth Community Support Framework programs, private investments totaling 8.0 billion euros and joint ventures between companies from the public and private sectors worth 3.0 billion euros.

    Alogoskoufis said he wished that a new round of talks over wage increases, expected to begin in 2008, could last two or three years since the government was already moving with a three-year plan.

    Commenting on economic conditions in the Eurozone, Alogoskoufis said economic growth will remain relatively high, with higher employment, lower unemployment and reduced fiscal deficits.

    Caption: ANA-MPA file photo of Greek Economy and Finance Minister George Alogoskoufis.

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