Greece: Staff Report for the 2005 Article IV Consultation

January 6, 2006

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Greece: Staff Report for the 2005 Article IV Consultation, (USA: International Monetary Fund, 2006) accessed November 23, 2024

Summary

This 2005 Article IV Consultation highlights that economic growth in Greece has been strong for several years, underpinned by a large fall in interest rates owing to adoption of the euro and subsequent European Central Bank easing. In 2005, the authorities implemented substantial fiscal consolidation, reducing the budget deficit to 4.6 percent of GDP on IMF staff calculations. Economic growth in 2006 and beyond is likely to be moderate compared with the high rates enjoyed in previous years, though it should remain comfortably above the euro area average.

Subject: Banking, Expenditure, Fiscal consolidation, Fiscal policy, Fiscal stance, Public debt, Revenue administration

Keywords: Authorities' strategy, CR, Deficit, Fiscal consolidation, Fiscal stance, Fund staff estimate, Fund staff projection, GDP deflator, Global, Government, Investment expenditure, ISCR, Olympics expenditure, Western Europe

Publication Details

Pages:

60
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2006/004
Stock No:

1GRCEA2006001
ISBN:

9781451816235
ISSN:

1934-7685

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