Friday, April 4, 2014
"It's been hard, but we've turned the Greek economy around" said the Greek Finance Minister, Yiannis Stournaras, writing for the British daily The Guardian , on April 1.He reiterated that, "after four years of fiscal consolidation and structural reforms, the Greek economy is beginning to show the first encouraging signs of rebalancing and recovery." He added that the adjustment of fiscal and current account deficits - the so-called twin deficits - is unprecedented in modern economic history and that by the end of 2013, they both turned into substantial surpluses. He further stated that "Greece now faces the future with more optimism as it develops its new growth model."
See also The Guardian: Greece is coming out of recession, says finance minister
- Economic Sentiment Index Improves
In a monthly report, IOBE said that business expectations recovered in industry and construction; they fell in the retail-commerce sector and were stable in the services sector. Consumer confidence has also improved, after two months of decline, having reached the highest level in the four last years; however, it still remains in negative territory i.e. below 100 points.
