Inclusive devel­op­ment lag­gard

Greece last among 29 de­vel­oped economies stud­ied by WEF, also beaten by some de­vel­op­ing coun­tries

Kathimerini English - - Focus - BY DIMITRA MANIFAVA

Greece is rock-bot­tom among 29 ad­vanced economies on the Inclusive Devel­op­ment In­dex in this year’s Inclusive Growth and Devel­op­ment Re­port pub­lished by the World Eco­nomic Fo­rum. Greece also reg­is­tered the worst five-year trend in scores among this group.

This coun­try barely makes the av­er­age in the seven prin­ci­pal pol­icy do­mains (pil­lars) the re­port as­sesses, while in a num­ber of sub­pil­lars it is be­low av­er­age, such as in the ser­vice Greeks get for their high taxes.

The re­port states on Greece that “sev­eral de­vel­op­ing economies man­age a higher score, which in­di­cates how ur­gently re­forms must con­tinue as the coun­try strug­gles to emerge from a deep eco­nomic cri­sis.”

It adds that there are “many areas in which Greece must make progress to put in place the driv­ers of fu­ture growth and in­clu­sive­ness. Par­tic­u­lar pri­or­i­ties in­clude re­form­ing the ed­u­ca­tion and train­ing sys­tems to im­prove out­comes and nar­row the gaps be­tween stu­dents from dif­fer­ent so­cioe­co­nomic back­grounds; ad­dress­ing high lev­els of cor­rup­tion and red tape that are hold­ing back busi­ness cre­ation and devel­op­ment; and in­cen- tiviz­ing com­pa­nies to move out of the in­for­mal sec­tor to cre­ate bet­ter em­ploy­ment op­por­tu­ni­ties and widen the tax base needed for the govern­ment’s cof­fers.”

On a scale of 1 to 7, with 1 be­ing the worst per­for­mance and 7 the best, Greece’s score per pil­lar is the fol­low­ing: In ed­u­ca­tion and skills it got 4.85, with 5.88 for ac­cess but just 3.81 per­cent for qual­ity of ed­u­ca­tion; in ba­sic ser­vices and in­fra­struc­ture it ob­tained 4.75; in 642.51 1.0668 cor­rup­tion it gar­nered just 3.53, with the busi­ness and po­lit­i­cal ethics sub-pil­lar at just 3.20 per­cent; in fi­nan­cial in­ter­me­di­a­tion of real econ­omy in­vest­ment Greece took 3.50 and in as­set build­ing and en­trepreneur­ship it scored just 3.61; in em­ploy­ment it reached 3.66 and in fis­cal re­sources a mea­ger 3.58, as the re­port records that the high tax­a­tion op­er­ates as a coun­ter­in­cen­tive for la­bor and in­vest­ments.

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