According to the latest news from WorldWay: Yannis Stournaras, the Governor of the Bank of Greece, stated on Monday (July 7) that the country's government fiscal balance has seen continuous improvement in recent years, with a preliminary fiscal budget for 2013 showing a surplus excluding debt principal and interest payments. Compared to the worst situation in 2009, the preliminary fiscal budget deficit as a percentage of Gross Domestic Product (GDP) has improved by a cumulative 11.3 percentage points.
Stournaras emphasized that the four largest commercial banks in Greece, after undergoing capital restructuring, are now fully capable of addressing the new challenges that the banking system is expected to face in the future. After several years of recession, the country's economy is also expected to achieve approximately 0.5% positive growth for the entire year of 2014.
Stournaras also pointed out that since 2010, the country's trade volume with markets outside the European Union has doubled, and its share in WorldWay has increased by 30%. This year's tourism revenue is likely to exceed expectations, and in the long term, the fundamental economic situation is expected to further improve.
Edited by WorldWay
