The Bank of Greece (BOG) governor is sounding the alarm over the important labor force shortage, stressing that if immediate efforts are not made to cover the approximately 200,000 vacant jobs that exist today, “we will find the problem in front of us.”
As Yannis Stournaras said in an article, “we lack hands in the sectors of tourism, agriculture and construction. If we don’t find them immediately, we will start to have problems in the economy as well.”
On his part, Finance Minister Kostis Hatzidakis stated that “the real convergence of incomes with the average of the European Union is now the big challenge.”
Another 40 years – provided that certain key reforms are advanced and primary surpluses of 2% of GDP annually are achieved – will be needed for Greece to secure its prosperity and return to public debt of 60% of GDP, estimated the governor of the Bank of Greece.
“We must never stop trying to make our country even more resilient to current and future challenges. Even more, we must take advantage of the fact that we have political stability until 2027, in order to achieve real convergence with Europe at all levels,” Hatzidakis noted, adding that “the real convergence of incomes with the average of the European Union is the great challenge and for this reason the government is implementing a multi-level plan: First, with a serious fiscal policy, which is the foundation of every effort. Secondly, with policies to strengthen the competitiveness of businesses and the economy.
Third, by further improving the functioning of the financial system.
Fourth, with the optimal utilization of the funds of the Recovery Fund and the new NSRF. Fifth by encouraging mergers and innovation. And, sixth, with the more efficient use of public property.”
