Greece: Staff Report for the 2006 Article IV Consultation
IMF Staff Country Reports, January 25, 2007
Source details
- Canonical URL
- Greece: Staff Report for the 2006 Article IV Consultation
Other formats
Bibliographic details
- Published: January 25, 2007
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451816273.002
Economic performance
- Real GDP rose by an estimated 4.1 percent in 2006.
- Growth was driven by private domestic demand and a pickup in goods exports.
- Economic growth had been strong for several years leading up to 2006.
Financial sector and credit dynamics
- Growth was underpinned by a rapid increase in private sector credit.
- The credit expansion followed the liberalization of the financial sector and a sharp drop in interest rates.
Structural reforms and product-market measures
- Authorities introduced significant structural measures to improve product markets, including:
- Simplified business licensing procedures for industrial firms.
- More flexible overtime rules.
- Liberalization of network industries.
Subject coverage and keywords (as listed)
- Banking, Expenditure, Financial institutions, Fiscal policy, Fiscal stance, Loans, National accounts, Public debt
- Keywords: CR, current account, deficit, Europe, Fiscal stance, GDP data, GDP revision, government, ISCR, Loans, pose downside risk, private sector credit, public enterprise reform, reform
Source: Greece: Staff Report for the 2006 Article IV Consultation, January 25, 2007.