Local view for "http://purl.org/linkedpolitics/eu/plenary/2001-07-03-Speech-2-175"
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"en.20010703.9.2-175"2
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".
According to the spring economic forecasts presented by the Commission, Greece’s GDP will grow by 4.4% in 2001 and inflation as measured by the decrease in private consumption will slow down slightly to 2.8% of the annual average, compared to 3% in 2000. Given this context, public administrations’ accounts will balance out in 2001, the labour market situation will improve and the unemployment rate will fall for the second consecutive year, reaching 10.3% in 2001.
With regard to real production growth, the Commission’s estimate is slightly lower than that given by the Greek authorities at the end of 2000 and is reflected in the stability programme drawn up in spring 2001.
The Commission forecasts take account of shrinking world demand in the first few months of the year and therefore differ from those given by the Greek authorities.
Nevertheless, contrary to what might appear to be the case, the macroeconomic forecasts of the Commission’s stability programme are worse than the Greek forecasts. For the moment, there are no grounds to believe that the medium-term prospects for the stability programme are any less valid.
We, as the Commission, will soon be initiating work on the autumn forecasts and for the moment do not envisage making significant changes in the case of Greece.
According to recent announcements by the Greek authorities, given the new, less favourable, international climate, the national forecasts will be adjusted more towards the Commission’s spring forecasts. In any event, in the 2001 update of the stability programme, which is due to be presented by the end of the year, the Greek authorities will undertake the necessary adjustment of their medium-term macroeconomic outlook and an assessment of the impact of this on public finances. To summarise very briefly, the economic situation is not particularly favourable, but since this assessment still falls within the levels forecast in the stability programme and in its 2001 update, we do not feel that the problems are as serious as some speakers are suggesting."@en1
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