Ail­ing econ­omy

Kathimerini English - - Front Page -

The left­ist-led gov­ern­ment is strug­gling to con­vince vot­ers that the Greek econ­omy has started to show an up­ward trend, but data pro­vided by ex­perts pro­vide a dif­fer­ent pic­ture. The fact is that se­ri­ous in­vestors are still shy­ing away from the lo­cal mar­ket. At the same time, small in­vestors are mostly set­ting up bars, cafes and restau­rants. In other words, they are in­vest­ing in a busi­ness sec­tor that makes zero con­tri­bu­tion to ad­vanc­ing the coun­try’s eco­nomic com­pet­i­tive­ness. Mean­while, the weekly bul­letin of the Hel­lenic Fed­er­a­tion of En­ter­prises (SEV) on the state of the Greek econ­omy points out that the com­bi­na­tion of ex­ces­sive tax­a­tion and the drops in bank de­posits and dis­pos­able in­comes is very bad news for sus­tain­able growth. No econ­omy can be con­sid­ered healthy when its well-be­ing is based on sur­pluses which, in turn, de­rive from ex­or­bi­tant tax­a­tion and a freeze on state pay­ments.

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