SEV report on economic developments

Greece is currently in a low point balance with domestic savings funding investments, without the need to borrow money from abroad, the Federation of Hellenic Enterprises (SEV) said in a report released on Thursday.

In its weekly bulletin on economic developments, SEV noted, however, that if amortizations were taken in mind, then the levels of net savings and investments were negative, meaning that we do not save and invest what is necessary, not only to preserve a waning capital equipment but to raise it in order to improve the living standards of the population.

“What we must pursue is to raise savings and investments without undermining a macroeconomic balance achieved,” SEV said, adding that there is nothing bad in borrowing from abroad, but on the condition that high-yield private investments were funded and not public consumption through high fiscal deficits.

The bulletin said that following an agreement on the fourth and last review of the adjustment programme, the market seems to adopt a wait-and-see stance, while households remained concerned over economic developments in the country.

ReportSEVEconomic Developments
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