The Greek government is preparing a plan for the post-memorandum era which will be of ‘Greek-cut’ and, after the latest Eurogroup, it has been named “holistic strategic development plan”. Already, the basic principles of it have been set (it should be ready by Easter) and, for sure, one of the major growth enhancing issues is investment. According to Ministry of Economy and Development sources, the objective of attracting Foreign Direct Investment for 2018 has been set at 6 billion euros. It is worth noting that the corresponding figure for 2017 is 4 billions. After all, as sources of the Ministry of Economy pointed out, “many agreements made in 2017 will be implemented this year”.
Naturally, it is very important to mention that a better development base than the 2017 one would further strengthen the confidence of the Greek side. The final revised target that concerns last year is a 1.6% GDP growth, which may be revised again in the future, this time, upwards. The fact of an increase in industrial production, manufacturing and export indicators makes some analysts estimate that it will eventually get to 1.8%. In any case, the results concerning the above mentioned sectors will be part of the data that will be announced at the end of March, but may be included also in a future review of the coming autumn.
The sections of the project
Given that the development plan, which will contain various sections (Attracting Foreign Investments for Sustainable Development, Adapting to Extraversion by Increasing the Use of Technology, Using Financial and Development Tools, Registering the Use of Real Estate, Accelerating Justice Procedures, Confronting Regional Inequalities) is Greek, the government will try to put other issues on the table, too, for example, setting specific targets for reducing unemployment…/IBNA
Main Photo: Euclid Tsakalotos, Greek Minister of Finance / Bloomberg