Greece Staff Report For The Article Iv Consultation

Download or read book Greece written by International Monetary Fund and published by International Monetary Fund. This book was released on 2010-05-10 with total page 146 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Greek economy is teetering owing to heavy public debt and loss of market access. Greece is adopting an ambitious comprehensive multiyear adjustment program to lower the fiscal deficit and the debt ratio, reduce domestic demand in line with capacity, and increase supply and competitiveness so that the economy can step onto a higher growth path led by investments and exports. Greece needs a strong and sustained adjustment program to lower the fiscal deficit substantially and create the basis for a declining debt ratio.