Brussels says Greek productivity needs overhaul

The European Commission this week noted Greece's low productivity growth rate, at a time when there is a need for high investment. In its assessment of reforms in the context of the European semester 2020, the Commission also highlighted the country's export profile, arguing that the continuing trade deficit illustrates chronic structural weaknesses that entail increased costs for enterprises and a shortfall in competitiveness.

In the assessment report published on Wednesday in parallel with the sixth enhanced surveillance report, Brussels said that the increase in the overall competitiveness of output factors is positive, but too low for Greece to cover the distance separating it from other eurozone countries in terms of living standards in the short term.

It added that although investment has been on the rise since 2015, albeit at a slow pace, the following factors...

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