Wednesday, May 23, 2018

Greece unveils post-bailout growth plan

by Kerin Hope

Financial Times

May 23, 2018

Alexis Tsipras, the Greek prime minister, has unveiled a “strategic growth plan” to be implemented after the country exits the current €86bn bailout programme in August.

“It’s a plan that shows the path Greece will follow after the fiscal stabilisation programme ends, a plan that will lead us to an era where we stand on our own two feet.” Mr Tsipras told parliament. “It details our achievements, our goals and our aspirations.”

The 100-page policy document presented to MPs forecasts sustained growth above 2 per cent yearly over the next five years in line with projections by Greece’s international creditors while setting a modest target of €11bn of new investment.

Economic reforms would continue, underpinned by “key performance indicators and ongoing rigorous monitoring,” according to the text, which was produced by Greek finance ministry experts, indicating that Greece expects to remain under close surveillance by its creditors, the EU and the International Monetary Fund.


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