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The Greek Economy Recent Developments

The Greek Economy Recent Developments. Elias Ioakimoglou 2/10/2000. A. The real economy. GDP and Productivity, Investment, Labour Cost and Profitability. Fact 1. From Crisis to Recovery. Annual % changes. GDP Growth 1970-2000. Moving Average (9 terms).

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The Greek Economy Recent Developments

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  1. The Greek EconomyRecent Developments Elias Ioakimoglou 2/10/2000

  2. A. The real economy GDP and Productivity, Investment, Labour Cost and Profitability

  3. Fact 1. From Crisis to Recovery Annual % changes GDP Growth 1970-2000 Moving Average (9 terms)

  4. Fact 2. The revival of productivity... Annual % changes Moving Averages (9 terms) GDP Growth 1970-2000 Labour Productivity

  5. ...due to a rise in Fixed Private Investment As a % of GDP 2000-2001: OECD Forecast

  6. Investment in Machinery 1996-2000 As a % of GDP 2000-2001: DGII Forecast

  7. Fact 3. Labour Cost is decreasing... Labour Compensation as a % of GDP Business sector

  8. ...and Profitability is rising Gross Profit as a % of Fixed Capital (%) Manufacturing Business Sector

  9. Fact 4. Domestic Demand is accelerating Annual % changes 2000-2001: Forecast

  10. The recovery of the late ’90s Public Investment EU funds Capital devaluation Organisational change Structural Change Domestic Demand Private Investment Productivity GDP Profitability Labour Cost Wages Unemployment + Flexibility in the labour market

  11. B. Nominal Convergence Inflation, Public Deficit, Interest Rates and the Stock Exchange

  12. Inflation is falling

  13. The Public Deficit below 2%

  14. Interbank Interest Rates (%) 1999 2000

  15. Number and Market Value of Listed Companies on the Athens Stock Exchange

  16. C. The Social Deficit Unemployment and Inequality

  17. Fact 5. The Labour Force is growing faster than Employment Thousand Labour Force Employment

  18. ...and Unemployment is increasing % of the Labour Force

  19. Labour Cost and Inequality Index Unit Labour Cost (EU=100) Inequality Index

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