Dynamic growth in Greece Greek economy

On the occasion of the expiry of the Third Adjustment Program on August 20, the German Institute for Economic Research (DIW) of Berlin publishes a report on the perspectives of the Greek economy, which shows that growth will be momentary in the coming years [19659002] The report, presented today, emphasizes that reforms have mainly focused on the deregulation of the labor market instead of creating a climate conducive to investment, while fighting bureaucracy and

Regarding the developments and prospects of the private economy, the report of the German Finance Institute indicates that the value gross output (IMA) has decreased by 42% since the beginning of the crisis in 2014.

Despite the recovery of recent years, it is still 38% lower than in 2008, before the crisis

Accordingly, the editor-in-chief of the report, & # 39; economist Alexander Kretikos said in a presentation in Berlin that the Greek economy

There is no proper development framework

According to DIW, two sectors are able to contribute in the future to growth

the economy has fast-growing companies, mainly in the field of logistics and computer services

At the same time, the report from the German institute points out that Greece has a strong education and research system, operated by new or large companies

For example, while the number of scientific publications is important, the number of patents is 86% lower than the European average

However, no potential of the Greek economy can yield without the appropriate framework that the Greek government is able to provide structural reforms for boosts Offer

The report also notes that the Greek government must support the development of enterprises, with radical reforms in the administration, Justice and the tax system.

Economist Alexander Kritikos said in Berlin that "the crisis is often characterized as an opportunity for a fresh start. With the completion of the third program, however, the pressure for reform is halted. Unfortunately, the Greek government has not been able to exploit the crisis as an opportunity to lay the foundations for sustainable development. If the country exploited existing capacity, economic growth of up to 5% would be possible. "

^{Source: dw.com}