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Country Forecast Greece Updater

  • ID: 2101430
  • Country Profile
  • February 2017
  • Region: Greece
  • 18 Pages
  • The Economist Intelligence Unit
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In September 2015 Syriza Unifying Social Front (Syriza)-the party of the prime minister, Alexis Tsipras-won the snap election (the second in 2015) and formed a coalition government with the far-right, nationalist Independent Greeks (AE). The Syriza-AE government's majority has fallen from five to three, and could evaporate as the coalition implements unpopular bail-out policies. The Economist Intelligence Unit does not think that the government will last a full term.

Protests about labour market reforms, pension cuts, tax and social security increases, and privatisation are likely to intensify as the government strives to meet the ambitious primary surplus budget targets under the three-year European Stability Mechanism (ESM) bail-out programme. This will increase pressure on the coalition and could result in an early election, which the main opposition New Democracy (ND) would probably win.

We do not think that the policies contained in the third economic adjustment programme will generate sufficient economic growth to mitigate Greece's debt burden or reduce popular disaffection with austerity. Political stability and Greece's membership of the euro zone will therefore remain in question over the forecast period (2017-21).
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Country Forecast Greece Updater

Country forecast overview: Highlights

Country forecast overview: Key indicators

Country forecast overview: Business environment rankings

Country forecast overview: Greece's business environment at a glance
Policy towards private enterprise and competition
Policy towards foreign investment
Foreign trade and exchange controls
Taxes
Financing
The labour market
Infrastructure

Fact sheet

Outlook for 2017-21: Political stability

Outlook for 2017-21: Election watch

Outlook for 2017-21: International relations

Outlook for 2017-21: Policy trends

Outlook for 2017-21: Fiscal policy

Outlook for 2017-21: Monetary policy

Outlook for 2017-21: Economic growth

Outlook for 2017-21: Inflation

Outlook for 2017-21: Exchange rates

Outlook for 2017-21: External sector

Data summary: Global outlook

Data summary: Gross domestic product, current market prices

Data summary: Gross domestic product, at constant prices

Data summary: Gross domestic product by sector of origin

Data summary: Growth and productivity

Data summary: Economic structure, income and market size

Data summary: Fiscal indicators

Data summary: Monetary indicators

Data summary: Employment, wages and prices

Data summary: Current account and terms of trade

Data summary: Foreign direct investment

Data sources and definitions
Global data
Domestic data
Abbreviations
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