Year 2018 seems to be a decisive year for the Greek economy, following the successful issue of bonds last July and the European Council’s decision to close the Excessive Deficit Procedure for Greece last September. According to the state draft budget, submitted to Parliament last week by the Finance Ministry, the Greek economy is foreseen to achieve a growth rate of 2.4% and a primary surplus of 3.5% of GDP for 2018, in line with the Medium-term Fiscal Strategy. 

budget1

For 2017, the draft budget envisages that primary surplus will significantly surpass the fiscal target of 1.75%, standing at 2.2%, while growth rate is forecast to be 1.8%, allowing for an one–off spending in the form of a social dividend to support weak households.

The sustainable achievement of fiscal targets for a third consecutive year is due to the strengthening of fiscal discipline, the gradual recovery of confidence in the perspectives of the Greek economy and the significant creation of new jobs, allowing the Greek government to successfully combine fiscal responsibility with social justice.

For 2018, the draft budget foresees the implementation of social policy measures such as:
- introduction of a Social Solidarity Income with a total budget of 760 million euros, offering relief to more than 250,000 households living in poverty;
- distribution of 320 million euros aiming to protect vulnerable households and combat child poverty;
- state contribution of 100 million euros in order to protect people’s primary residence, based on income and wealth eligibility criteria.

Stronger growth is also expected to reduce unemployment below 20% in 2018, close to 19%, while employment is expected to rise by 1.7%.

“Year 2018 will mark Greece’s successful exit from the economic adjustment programs, after a long period of time”, according to the Finance Ministry’s note to the Greek Parliament.

“The program will be completed on time and the Greek government is working on achieving sustainable and not short-term growth rates” stressed the Prime Minister Alexis Tsipras in a speech at the 2nd Thessaloniki Summit last week. “The Greek economy is experiencing an extremely positive momentum” underlined Alexis Tsipras. 

I.E.

“4.1 miles”: A documentary on refugee crisis ...
“4.1 miles” a student film by Daphne Matziaraki on the refugee crisis has been voted on ...
Read more
Greece in the World: 6 foreign language websites
Starting from October 2015 the Secretariat General for Information & Communication ...
Read more
Greece’s move towards universal health coverage
Fundamental vision of the reform efforts made by the Greek Ministry of Health, is the universal ...
Read more
Reading Greece: Michaela Prinzinger on ...
Michaela Prinzinger was born in 1963 in Vienna, Austria. She studied Byzantine and Modern Greek ...
Read more
Reading Greece: The Vision of Filippos Tsimpoglou ...
The National Library of Greece, under the direction of Dr. Filippos Tsimpoglou, General Director, ...
Read more
Reading Greece: Vassilis Lambropoulos on New ...
Vassilis Lambropoulos has been C. P. Cavafy Professor of Modern Greek and Director of the Modern ...
Read more
Restoring labour rights: a pilot project to ...
In a statement to Athens News Agency for May Day, Labour Minister Effie ...
Read more
Rethinking Greece: Ares Kalandides on rebuilding ...
Ares Kalandides is a Berlin-based urban planner and consultant in place branding. He is the founder ...
Read more
Rethinking Greece: Johanna Hanink on Ancients, ...
Johanna Hanink is Associate Professor of Classics at Brown University, US. Her work focuses on ...
Read more
Study in Greece: International Master's ...
Did you know that Greece offers many studying opportunities at Master’s degree level ...
Read more

rethinking greece f1

quo Vadis banner

reading greece final

filming greece banner 234768

banner newsletter 5