Hellenic Federation of Enterprises
The drop in Greece's unemployment rate appears to have been achieved through the creation of more jobs at low salaries, the Hellenic Federation of Enterprises (SEV) says, noting that the lion's share of the employment spike is seen in the salary bracket of 501-600 euros per month. The higher the salary, meanwhile, the lower the rate of the increase in employment.
For the country to return to the growth rate of 4 percent it enjoyed in the period from 2000 to 2007, it must increase productivity through private investments and the reduction of overtaxation, so that domestic savings grow faster, the Hellenic Federation of Enterprises (SEV) noted in its weekly bulletin on Friday.
In the era of excessive primary budget surpluses, key state sectors such as healthcare, education, security and justice are underfinanced by the Public Investments Program, because slashing essential spending is one of the ways in which excessive surpluses are created, to be distributed as handouts.
High tax rates and the combination of corruption with a lack of transparency top the list of the most important obstacles to entrepreneurship in Greece, according to a survey conducted by MRB for the Hellenic Federation of Enterprises (SEV). The corruption and insufficient transparency combo has risen from the fifth most significant obstacle last year to the second in 2018.
Greece's post-bailout recovery will require "a greater sense of responsibility" from the country's political leadership than that exhibited during the adjustment period of the last eight years, as Greece will lose the financial safety net provided by its creditors, the Hellenic Federation of Enterprises (SEV) said on Thursday.