Greece needs to make progress in the implementation of pending reforms, says central bank’s governor

Greece needs to make progress in the implementation of pending reforms, while a new agreement between the country and its partners is a necessary precondition for the continuation and strengthening of an economic recovery currently underway, the Bank of Greece said in its annual report.

Presenting the report, Yiannis Stournaras, the central bank’s governor, said there were uncertainties in the growth outlook of the country this year, based on the implementation of a transition agreement with its partners and a possible deterioration of fiscal conditions.

“Pending obligations were relatively limited and have a low cost compared with the huge volume of changes implemented in the previous years and the heavy burden paid by the Greek society,” the central banker said.

Stournaras noted that Greece needed a single cohesive growth program which will be based on strengthening production through investments and mostly through structural reforms.