Calamos Supports Greece
GreekReporter.comGreek NewsEconomyParliamentary Budget Office Claims ''Greece Will Need Years To Fully Recover''

Parliamentary Budget Office Claims ''Greece Will Need Years To Fully Recover''

The Greek Parliament in Athens. Photo by Kathimerini

Franciscos Koutentakis, the Chief of the Greek Parliament‘s Budget Office, spoke about the Greek economy’s future prospects on Thursday morning.
Koutentakis addressed the special Parliamentary committee on a wide range of financial issues, including its financial statement, the general balance sheet and the implementation of the Greek state budget, among other subjects.
The chief of the Budget Office said that despite progress made, Greece will still need several more years to fully recover from the implications of the eight-year long financial crisis which ravaged the country and shrank its economy by one quarter.
”The growth rates of the Greek economy are on the right direction but this does not mean that we are at a good point yet,” Koutentakis noted.
During his speech, he also mentioned the factors which are not helping in Greece’s recovery. The Budget Office chief referred to the rising amounts of taxes which remain unpaid to the Greek state, the country’s shrinking capital reserves and the decline in the total numbers of the Greek workforce.
Koutentakis said that there is no sufficient scientific evidence to suggest that the recent rise of the national minimum wage will either help or damage the economy.
”In 2012 the minimum wages fell, but this did not add any more jobs to the economy,” Koutentakis noted.
The Parliamentary Budget Office works according to its own special regulation for its internal organization and operation, and is totally independent from the Greek government itself.

See all the latest news from Greece and the world at Greekreporter.com. Contact our newsroom to report an update or send your story, photos and videos. Follow GR on Google News and subscribe here to our daily email!



Related Posts