Greece: 2023 Article IV Consultation—Press Release; Staff Report; and Statement by the Executive Director for Greece
IMF Staff Country Reports, January 24, 2024
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- Canonical URL
- Greece: 2023 Article IV Consultation—Press Release; Staff Report; and Statement by the Executive Director for Greece
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Bibliographic details
- Published: January 24, 2024
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400263262.002
Key findings and outlook
- Greece’s economic outlook has improved notably.
- Comprehensive reforms to address structural supply impediments would lift medium-term growth prospects amid a negative demographic outlook.
- Expeditious implementation of the National Recovery and Resilience Plan would help raise productivity by supporting the green and digital transition, and reskilling and upskilling the labor force.
- Continued reforms in digitalizing public administration and tackling barriers to more competition would unlock higher private investment and improve productivity.
- Rationalizing regulations would improve business dynamism and resource allocation.
Fiscal policy and public debt sustainability
- Growth-friendly fiscal consolidation can further strengthen public debt sustainability while supporting inclusive and green growth.
- Further tightening in the near term and maintaining a primary surplus in the medium term would help further strengthen public debt sustainability while limiting additional pressure on inflation.
Financial sector resilience and risk management
- The resilience of the financial system should be further strengthened in an environment of higher-for-longer interest rates.
- The monitoring and management of risks associated with interest rates, liquidity and funding, and credit exposures should be further strengthened.
Reforms and productivity-enhancing measures
- Comprehensive reforms to address structural supply impediments are necessary given a negative demographic outlook.
- Continued reforms in digitalizing public administration and tackling barriers to more competition would unlock higher private investment and improve productivity.
- Expeditious implementation of the National Recovery and Resilience Plan would support the green and digital transition and labor reskilling/upskilling.
Publication and metadata
- Publication date: January 24, 2024
- Pages: 79
- Volume: 2024
- Issue: 023
- Series: Country Report No. 2024/023
- DOI: https://doi.org/10.5089/9798400263262.002
- Stock No: 1GRCEA2024001
- ISBN: 9798400263262
- ISSN: 1934-7685
- Subjects: Financial institutions; Income; Inflation; International organization; Loans; Monetary policy; National accounts; Prices; Public debt; Revenue administration
- Keywords: bank profit; climate change adaptation; core inflation; currency of Greece; Global; goods trade balance statistics; government payment process; headline inflation; higher-for-longer interest rates; household resilience; IMF quota; Income; Inflation; liability positions vis-à-vis nonresident; Loans; money market rate; potential GDP; SDR million; transparency policy
Summary derived from "Greece: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Greece" (IMF Staff Country Reports 2024, 023).
Content in this bundle
- 1grcea2024001