Greece Staff Report For The 2004 Article Iv Consultation

Download or read book Greece: Staff Report for the 2004 Article IV Consultation written by International Monetary Fund and published by International Monetary Fund. This book was released on 2005-02-09 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: The staff report for the 2004 Article IV Consultation on Greece focuses on economic developments and policies. Rising incomes and a falling, though still high, unemployment rate underpinned strong household consumption, while increased profitability spurred investment spending, especially construction. Inflation has been above the euro area average, eroding international competitiveness and export market shares. Regarding structural policy, the authorities recognized that Greece still lags significantly behind the European Union in real per capita income despite the economic boom.