{
  "title": "Greece: Staff Report for the 2006 Article IV Consultation",
  "publication": "IMF Staff Country Reports, January 25, 2007",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/greece-staff-report-for-the-2006-article-iv-consultation-20255",
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  "summary": "This 2006 Article IV Consultation highlights that economic growth of Greece has been strong for several years, underpinned by a rapid increase in private sector credit, following the liberalization of the financial sector and the sharp drop in interest rates.",
  "sections": [
    {
      "heading": "Economic performance",
      "content": "- Real GDP rose by an estimated 4.1 percent in 2006.\n- Growth was driven by private domestic demand and a pickup in goods exports.\n- Economic growth had been strong for several years leading up to 2006."
    },
    {
      "heading": "Financial sector and credit dynamics",
      "content": "- Growth was underpinned by a rapid increase in private sector credit.\n- The credit expansion followed the liberalization of the financial sector and a sharp drop in interest rates."
    },
    {
      "heading": "Structural reforms and product-market measures",
      "content": "- Authorities introduced significant structural measures to improve product markets, including:\n  - Simplified business licensing procedures for industrial firms.\n  - More flexible overtime rules.\n  - Liberalization of network industries."
    },
    {
      "heading": "Subject coverage and keywords (as listed)",
      "content": "- Banking, Expenditure, Financial institutions, Fiscal policy, Fiscal stance, Loans, National accounts, Public debt\n- 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\n\nSource: Greece: Staff Report for the 2006 Article IV Consultation, January 25, 2007.\n\n---\n\n Content in this bundle\n\n- cr0726\n  - cr0726 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr0726 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: January 25, 2007",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781451816273.002",
    "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.",
    "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.",
    "Authorities introduced significant structural measures to improve product markets, including:",
    "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",
    "**_cr0726**"
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