Current account deficit caution
European Union institution representatives expressed concerns last week about the deficit of the current account balance, which reflects a deficit in the competitiveness of the economy.
Kathimerini understands the concerns were conveyed by staff-level experts who visited Athens in the context of the regular, post-program supervision.
Moreover, on the prospects of the Greek economy in the longer term, they sounded the alarm about the country’s demographic problem, which undermines the development and wellbeing of the citizens.
The evaluation of the economy is no longer reminiscent of the streamlining period. That is why, after all, the visits of the institutions go almost unnoticed. Greece is among the prudent Europeans on fiscal performance, while on the growth front it is above the European average, as is the European South in general.
These facts were also confirmed by the representatives of the institutions to the National Economy and Finance Ministry officials with whom they met. On the other hand, there were concerns about the structural weaknesses of the Greek economy that threaten growth and debt sustainability.
