Greece: reforming impetus lost

In Greece the economy is in an upswing with real GDP expanding at a 4.1% pace in 2000. On the labour market, the situation has improved: the unemployment rate fell, on average, by 0.7 percentage points to 11%. Inflation stood at 2.9%. In 2001, real GDP should increase by ca. 3½%. The unemployment rate will remind at 11% for the year. Consumer prices will increase by an annual 4%. In 2002 the economy will grow at a faster pace.