Trade with Greece 2016 - page 8

I
t may seem difficult for a country under such
severe economic pressure, which also has to
share the disproportionate burden of a mas-
sive influx of refugees and immigrants coming
from the war-torn countries of the Middle-East, to
overcome its chronic problems and achieve major
economic goals.
However, the path of sustainable inclusive growth
is the only one that can produce positive out-
comes, not only for the economy, but for the gen-
eral stability of the region as well. The productive
transformation of Greece towards innovation, the
production of high-added-value products and
services, and employment growth must be
accompanied with significant reforms in public
management, the health system, education and
justice so as to render the prospective growth
socially inclusive.
Ever since the July agreement, the Ministry of
Economy, Development and Tourism has demon-
strated a remarkable record of crisis manage-
ment, amidst a negative economic climate:
Successful management of capital controls, suc-
cessful management of the previous and current
NSRF, fruitful agreements with development
banks (EBRD, IFC), reforms in commerce and
consumer protection policies, reorganisation of
the General Secretariat of Private Investments,
contacts with various foreign investors and attrac-
tion of foreign investments, negotiations and leg-
islation for managing NPLs, and actions for
strengthening and improving the tourist sector.
Considering future developments, the Ministry is
developing a concise institutional framework to pur-
sue three principal objectives: a) development of a
growth strategy, b) creation of a business-friendly
Trade with Greece
6
Greece is currently in pursuit of major
changes, on the one hand at the
macroeconomic level towards a modern and
stable productive model, an on the other hand
at the microeconomic level towards the con-
solidation of diversification and competition.
Greece is standing at
a historic crossroads
and prepares itself for a
new growth take-off
By George Stathakis,
Minister of Economy, Development & Tourism
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