## Greece: Staff Report for the 2006 Article IV Consultation

_IMF Staff Country Reports, January 25, 2007_

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**Canonical URL:** [Greece: Staff Report for the 2006 Article IV Consultation](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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## Bibliographic details
- Published: January 25, 2007
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451816273.002

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### 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.*

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/greece-staff-report-for-the-2006-article-iv-consultation-20255_