Mar­ket to keep suf­fer­ing for 2 more years

Kathimerini English - - Focus - DIMITRA MANIFAVA

Busi­ness­peo­ple in the En­deavor Greece net­work do not ex­pect the lo­cal econ­omy to re­cover for an­other cou­ple of years, ac­cord­ing to a sur­vey by the group.

The sur­vey’s re­spon­dents said they ex­pected the unem­ploy­ment rate to de­cline sig­nif­i­cantly after five years but that the brain drain would con­tinue. They said that they viewed the lat­ter as the third ma­jor prob­lem their com­pa­nies face, after the in­sta­bil­ity of the tax sys­tem and bu­reau­cracy. The sur­vey stressed the two main as­sets of Greece are the coun­try’s highly skilled hu­man re­sources and its lo­ca­tion.

Nev­er­the­less, En­deavor Greece man­ag­ing di­rec­tor Haris Makryni­o­tis noted that “now is the time for in­vest­ments in Greece,” ex­plain­ing that “the di­vest­ment by ma­jor for­eign and do­mes­tic en­ter­prises is leav­ing some space for small and medium-sized en­ter­prises.” He went on to fore­cast an in­crease in merg­ers and ac­qui­si­tions next year, given also the prob­lem­atic state the lo­cal credit sys­tem is ex­pected to re­main in.

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