Quarterly Report April - June 2016

Quarterly Report April - June 2016

The current report monitors the evolution of the Greek fiscal aggregates in relation to the targets set in the State Budget and in the Mid-term Fiscal Strategy Frameworks. It focuses on the first half of 2016. The report was drawn according to the present policy framework, as it is formed by the Memorandum that the Greek Government has signed with the European Central Bank (ECB), the European Commission (EU) and the International Monetary Fund (IMF). Moreover, the report takes into account the current debate on the revision of economic governance, of the EU and the Euro zone in particular.

The Coordinator and the Members of the Scientific Committee of the Office recognize that there are many different approaches within economic policy and that something that is necessary on economic terms is not necessarily politically feasible. Furthermore, something that is politically desirable is not always efficient in economic terms.

At the end of this report, there is a Special Chapter entitled “The Economic Adjustment Programs”, which tries to provide answers to questions by MPs during the meeting of the Special Standing Committee on the Financial Statement and the General Balance Sheet and the implementation of the State Budget, on 25.05.2016. We hope that in this way, we can contribute better to the workings of the competent Parliamentary Committees and inform the Hellenic Parliament and the Greek citizens.

The Coordinator of the Office

 Professor Panagiotis Liargovas