Greece's GDP will contract by 4,2% in 2013, while in 2014 it will start growing again by 0,6%. These are the forecasts that emerged from a report by the International Monetary Fund. Athens' recovery will be "gradual" with a rapid implementation of reforms that can help "overturn expectations, improve liquidity conditions and bring about a return on investment and net exports", continues the IMF.
Unemployment in 2013 will be 27%, while last year the public debt "was still 157% of GDP". For this reason, the Washington institute believes that to ensure its sustainability, "the commitment of the country's European partners to provide further help, if necessary, to bring the debt-to-GDP ratio to 124% by 2020 and definitely below 110% of GDP by 2022”.
"The road to recovery remains very difficult", which is why the Fund is pressing the authorities to redouble "their efforts in terms of reforms". The "priority is now the fight against tax evasion". We also need to "review the public administration, in particular by reducing staff and replacing low-performing employees with more qualified ones". These measures will have to be "structural and heavy to raise productivity, lower consumer prices, boost investment and create much-needed employment opportunities".
