Greece: First Review Under the Stand-By Arrangement

September 14, 2010

Preview Citation

Format: Chicago

Greece: First Review Under the Stand-By Arrangement, (USA: International Monetary Fund, 2010) accessed November 23, 2024

Summary

The recession is unfolding in line with expectations. Inflation is higher than expected from indirect tax hikes. The key challenges remain restoring fiscal sustainability, safeguarding financial sector stability, and boosting competitiveness—and hence growth and employment. Staff and authorities agreed that nominal growth will be somewhat higher than originally anticipated. The government will facilitate private investment including through the privatization program. Stronger public financial management and especially tax administration are needed to mitigate risks. Advancing tax administration reform is a crucial priority to limit risks.

Subject: Banking, Budget planning and preparation, Credit, Expenditure, Fiscal stance, Money, Pension spending, Public financial management (PFM)

Keywords: Budget planning and preparation, CR, Credit, ECB mission, Europe, Financial asset, Fund staff projection, IMF mission, IMF staff calculation, ISCR, Pension spending, Stand-By Arrangement, State budget, Tax arrears collection

Publication Details

Pages:

107
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2010/286
Stock No:

1GRCEA2010004
ISBN:

9781455206926
ISSN:

1934-7685

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