2009 OECD Economic Surveys: Greece 2009

image of OECD Economic Surveys: Greece 2009
OECD's periodic review of Greece's economy.  This 2009 edition examines how well Greece is weathering the economic crisis. It also looks at how to bring Greece's public finances on to a sustainable path, how to improve the performance of the public health care system, and how to raise education outcomes. Greece has weathered the economic crisis relatively well, but putting public financing on a sustainable path will require strengthening tax administration and tighter expenditure management. Greek health outcomes compare favourably with the OECD average but the system is seen as not working well by the population. Greece's educational indicators lag behind those of other OECD countries and OECD makes wide-ranging recommendations in this report.

English Also available in: French

Weathering the international crisis

The Greek economy has not escaped the consequences of the global economic crisis, but, it has so far weathered the storm relatively well. It nevertheless remains vulnerable going forward because of its large imbalances both on the fiscal and external accounts. High public debt leaves little room for fiscal manoeuvre to limit the impact of the crisis. The close trade and banking links established with the South Eastern European economies, which are exposed to the financial turbulence, might be a risk in the near future. This chapter looks at how Greece is coping with the crisis, and recommends policies to deal with both the shorter and medium-term macroeconomic challenges.

English Also available in: French

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