Greece: Selected Issues

International Monetary Fund

No 1999/138, IMF Staff Country Reports from International Monetary Fund

Abstract: This Selected Issues paper and Statistical Appendix presents a number of studies designed to probe in more depth issues of fiscal adjustment, the public sector’s creditworthiness as judged by foreign lenders, and the banking system in Greece. The paper highlights that fiscal adjustment in Greece has followed a gradual path, relying to a significant extent on revenue enhancement and eschewing primary expenditure reduction. The paper also examines the evolution and tax determinants of the most widely followed indicator of the health and competitiveness of a banking system—the lending-deposit spread.

Keywords: ISCR; CR; budget; interest rate; annual budget; Balassa-Samuelson effect; productivity differential; interest rate reduction; inflation in Greece; differential result; balance sheet operation; interest rate convergence; Budget planning and preparation; Inflation; Real interest rates; Financial statements; Productivity; Europe; Southern Europe (search for similar items in EconPapers)
Pages: 113
Date: 1999-12-10
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