The OECD report about Greek economy

Greece's economic growth will be gradually stabilised in the second quarter of 2009, after staying at feeble levels during the first six months of the next year, according to latest OECD report.

The OECD predicts that the Greek economy will have a 3.2 percent growth rate this year and a 1.9 percent one in 2009.

Inflation will also decline. According to the OECD's predictions, inflation is expected to drop to 2.4 percent in 2010, from 4.5 percent in 2008 and 2.7 percent in 2009.

Despite the weaker economic conditions, fiscal restructuring must be continued, based on better control of public expenditures, according to the international organisation.

The reforming of the pension system and greater effectiveness in the health system and public administration are essential. OECD says that the recent measures aimed at widening the taxation base are welcome.

26.11.2008

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