Purchasing power: Convergence with Europe a 15-year marathon

There is still sizeable advancement to beryllium made successful Greece to heighten the mean purchasing powerfulness of its colonisation to the corresponding European levels.

According to the information from the quarterly study of the Parliament’s Budget Office, convergence whitethorn necessitate adjacent 15 years, while astatine the aforesaid clip precocious maturation rates of implicit 2% arsenic well arsenic continuous improvements successful the productivity scale should beryllium recorded.

The State Budget Office presented the quarterly study connected the people of the Greek system successful Parliament yesterday and its head, Ioannis Tsoukalas, was asked to remark connected Eurostat information that still ranks Greece successful the past three positions successful the EU if purchasing powerfulness is used arsenic a criterion.

“To scope the mean purchasing powerfulness of the Eurozone, galore steps are required. We person debased productivity. To converge faster, we request maturation rates that transcend the mean of the Eurozone. Investments and greater extroversion of the Greek system are required. Otherwise, if we stay successful a debased productivity authorities and nutrient chiefly for the interior market, we will not spot overmuch progress,” Tsoukalas commented.

The caput of the Budget Office predicted that the 2026 information will amusement that Greece will person the aforesaid “VAT gap” arsenic the European average, i.e. beneath 10%. Compared to existent levels, this means that there whitethorn beryllium an summation successful VAT revenues (and so with measures that are considered interventions to combat tax evasion) of 1 cardinal euros. This amount, Tsoukalas explained, tin beryllium seen by the economical staff arsenic further budgetary space to concern caller support measures. A indispensable information is that there is simply a applicable dialog with the European Commission.