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Wednesday, 1 August 2018

Greece, IMF Report: Greece : 2018 Article IV Consultation and Proposal for Post-Program Monitoring-Press Release

Read the July 31, 2018 report here (click on pdf file link)

"The recovery is projected to strengthen in the near-term, with growth expected to reach 2 percent this year and 2.4 percent in 2019, and with unemployment declining as the output gap closes. However, external and domestic risks are tilted to the downside, including from slower trading partner growth, tighter global financial conditions, regional instability, the domestic political calendar, and risks of reform fatigue. Moreover, in the long term, population aging is expected to weigh down on potential growth, increasing the need to foster productivity...

While a recovery is underway, Directors stressed that significant crisis legacies and social pressures remain, and the risks to the outlook remain on the downside. To address these issues, they encouraged further efforts to rebalance fiscal policy, strengthen bank balance sheets, and reform product and labor markets to boost sustainable and inclusive growth...

Directors underscored the importance of further public sector efficiency improvements and strengthened governance, noting, in particular, the shortcomings in tax enforcement".

Greece exits its bail-out programme, but its marathon has further to go, The Economist/The Greek Crisis

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