Despite the progress the Greek economy has made in recent years, there are still “excessive imbalances”, according to the European Commission (EC) report for the second financial semester, int.ert.gr reports.
According to EC, three countries face “excessive imbalances” (Greece, Cyprus and Italy) and ten countries face “imbalances” (Bulgaria, Germany, Spain, France, Croatia, Ireland, the Netherlands, Portugal, Romania and Sweden).
Regarding Greece, it is noted that “while the level of government debt remains high, it is mainly held by official creditors and the funding needs will be relatively low for at least a decade” and underlines that “the rate of debt reduction depends to a large extent on the pursuit of agreed budgetary targets and the implementation of reforms to create a sustainable growth perspective “.
RELATED TOPICS: Greece, Greek tourism news, Tourism in Greece, Greek islands, Hotels in Greece, Travel to Greece, Greek destinations , Greek travel market, Greek tourism statistics, Greek tourism report
Photo Source: Wikimedia Commons License: CC-BY-SA Copyright: European Commission
