{
  "title": "Greece: Fourth Review Under the Extended Arrangement Under the Extended Fund Facility, and Request for Waivers of Applicability and Modification of Performance Criterion—Staff Report; Staff Statement; Press Release; and Statement by the Executive Director for Greece",
  "publication": "IMF Staff Country Reports, July 31, 2013",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/greece-fourth-review-under-the-extended-arrangement-under-the-extended-fund-facility-and-40838",
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  "summary": "This paper discusses Greece’s Fourth Review Under the Extended Arrangement under the Extended Fund Facility, and Request for Waivers of Applicability and Modification of Performance Criterion.",
  "sections": [
    {
      "heading": "Summary findings: macroeconomic rebalancing and performance",
      "content": "- The economy is rebalancing, but it continues to do so through recession, not productivity-enhancing structural reform.\n- Domestic demand continues to fall albeit at a moderating pace.\n- Import compression has resulted in a further shrinking of the current account deficit.\n- The large output gap and high unemployment rate are exerting downward pressure on wages.\n- The competitiveness gap in unit labor cost terms has narrowed further.\n- Product prices are easing.\n- Sentiment indicators have improved, but the political crisis has had a dampening effect."
    },
    {
      "heading": "Policy themes and institutional issues covered",
      "content": "- Arrears\n- Banking\n- Budget planning and preparation\n- Expenditure\n- External debt\n- Property tax\n- Public financial management (PFM)\n- Revenue administration\n- Taxes"
    },
    {
      "heading": "Keywords and topical markers included in the report",
      "content": "- Arrears\n- authorities estimate\n- Budget planning and preparation\n- CR\n- Global\n- governance\n- government\n- IMF staff\n- ISCR\n- omnibus bill\n- Property tax\n- revenue administration of Internal Affairs\n- staff appraisal\n- state gas company\n- tax procedure code.\n- water tariff policy component\n\n---\n\n Content in this bundle\n\n- cr13241 — IMF staff report excerpts\n  - cr13241 — IMF staff report excerpts (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr13241 — IMF staff report excerpts (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: July 31, 2013",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781484350911.002",
    "The economy is rebalancing, but it continues to do so through recession, not productivity-enhancing structural reform.",
    "Domestic demand continues to fall albeit at a moderating pace.",
    "Import compression has resulted in a further shrinking of the current account deficit.",
    "The large output gap and high unemployment rate are exerting downward pressure on wages.",
    "The competitiveness gap in unit labor cost terms has narrowed further.",
    "Product prices are easing.",
    "Sentiment indicators have improved, but the political crisis has had a dampening effect.",
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    "staff appraisal",
    "state gas company",
    "tax procedure code.",
    "water tariff policy component",
    "**_cr13241 — IMF staff report excerpts**"
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