Posts Tagged ‘countries travel’

Greek Economy

Tuesday, July 17th, 2012

In January 2002, Greece joined the euro zone. Joining the euro area has provided Greece access to bank loans at lower rates compared to loans in drachmas (drachma – the Greek national currency) at the international market. This caused an increase in consumption goods, which in turn gave a strong boost to the economy of Greece. From 1997 to 2007, Greece has demonstrated strong economic performance. For example, gdp growth was 4% (compared to European average gdp growth of 2%). However, Greece, like all other countries in the world community, were influenced by the global financial crisis in 2008.

It should be said that an overly large payments the public sphere in Greece (for example, in Greece public servants are on 13 and 14 salaries) resulted in the crisis country to the brink of default. The Greek government was forced to reduce social benefits, which naturally caused a wave of demonstrations and protests by civil servants. Simultaneously, the Greek government has adopted a three year program to reform the country. Since 2012 Greece plans reform the pension system, health system, reduce the state's share in certain sectors of industry. The basis of Greek economy is tourism. For example, 73% of the revenue side of the budget for the Greek from tourism. Following in terms of turnover industries in Greece are the merchant marine fleet and agriculture.


© 2011-2024 Journey For Hope All Rights Reserved