Federation of Hellenic Enterprises: Greece needs new mix of investment-friendly policy

The Greek government and the institutions must negotiate a new mixture of investment-friendly policy, during the current review of the Greek program, aimed to reduce unemployment in a sustainable and not temporary way, the Federation of Hellenic Enterprises (SEV) said in its weekly bulletin on economic developments in the country.

SEV analysts said that the unemployment rate has fallen by 3.4 percentage points in the period from Q2 2015-Q2 2017, to 21.1 pct from 23.6 pct, or 163,500 totaling 1,016,600 unemployed people. Employment has risen by 165,900 in the same period, while new job positions have begun created in the private sector since 2013 due to a reduction in minimum wage, implementation of flexible labour forms and a big increase in tourism.

Commenting on a recent report by World Economic Forum on global competitiveness, SEV said it recorded the macro-economic stabilization of progress in fields such as labour relations and infrastructure, but also showed that access to funding remained extremely difficult for the private sector along with a weakening in a series of institutional indexes such as the impact of taxation, that keep on pushing away talent and quality investments from the country.