“Greece is in the right direction,” said OECD Secretary General Angel Gurria on Tuesday, during a press briefing at the end of the first of two days of the OECD’s 4th Ministerial Meeting of the Regional Development Policy Committee (RDPC) in Athens, ANA reports.
Greece is an exemplary case “of tremendous work and sacrifices” and “it went through dramatic moments trying to reduce its nominal debt, thus slowly creating the prerequisites for servicing its debt over the next 15 years,” added Gurria, who went on to add that “Greece has been rowing upstream, and that requires all the more effort.”
According to the OECD Secretary General, “there is enough primary surplus in the state budget that can be used to pay off interest rates and eventually the debt at large, thus changing the country’s course,” underlining that “the best stress test investors want to see is the recently issued state bond which generated great market interest.” He also pointed out that unemployment, although still high, dropped by 10% and that “banks must ensure spending stays on the right track.”
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