Greece: Ex-Post Evaluation of Exceptional Access Under the 2012 Extended Arrangement-Press Release; Staff Report;and Statement by the Executive Director for Greece
IMF Staff Country Reports, February 7, 2017
Source details
- Canonical URL
- Greece: Ex-Post Evaluation of Exceptional Access Under the 2012 Extended Arrangement-Press Release; Staff Report;and Statement by the Executive Director for Greece
Other formats
Bibliographic details
- Published: February 7, 2017
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475576252.002
Major findings
- Greece has made significant progress in unwinding its macroeconomic imbalances since the onset of its financial crisis.
- Extensive fiscal consolidation and internal devaluation have come at a high cost to society, reflected in declining incomes and exceptionally high unemployment.
- Downside risks to the macroeconomic and fiscal outlook remain significant, related to incomplete or delayed policy implementation.
Growth and fiscal projections
- Long-term growth is expected to reach slightly lower than 1 percent.
- The primary fiscal surplus is projected to come in at about 1.5 percent of GDP.
Policy implications and recommendations (inferred emphasis from findings)
- Maintain and complete policy implementation to reduce downside risks to the macroeconomic and fiscal outlook.
- Balance fiscal consolidation with measures to mitigate social costs stemming from declining incomes and exceptionally high unemployment.
- Continue structural reforms to support a sustained return to growth consistent with stabilization objectives.
Key statistics and identifiers from the publication
- Pages: 76
- Volume: 2017
- Issue: 044
- Series: Country Report No. 2017/044
- DOI: https://doi.org/10.5089/9781475576252.002
- Stock No: 1GRCEA2017003
- ISBN: 9781475576252
- ISSN: 1934-7685
Source: Greece: Ex-Post Evaluation of Exceptional Access Under the 2012 Extended Arrangement-Press Release; Staff Report;and Statement by the Executive Director for Greece, February 7, 2017.
Content in this bundle
- Country Report