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The Greek economy will complete the process in August



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Greece’s economy will end its consolidated surveillance process this summer. The news was welcomed by members of the Eurogroup, who noted the resilience of the Greek economy, despite the challenges of the pandemic, last summer’s fires and the war in Ukraine, Radio Romania Actualitati reports.

After 12 years of austerity, Greece is emerging from enhanced surveillance. This has been key to strengthening market confidence and helping to strengthen Greece’s economic recovery, especially in the immediate aftermath of the austerity program.

The return of the Greek economy back to normal, with the end of the consolidated surveillance process on August 20, was welcomed on Thursday in the Eurogroup by its chairman, Paschal Donohoe, the economy commissioner Paolo Gentiloni and the head of the European Stability Mechanism, Klaus Regling.

Paschal Donohoe pointed out the impressive resilience of the Greek economy, despite the challenges of the pandemic, last summer’s fires and the war in Ukraine, and stressed that Greece has met all the necessary conditions for the reimbursement of the seventh tranche of 748 million. debt reduction.

Satisfied with the results of the Greek sacrifices and the positive assessment, Greek Finance Minister Christos Staikouras noted that while all European economies are severely affected by the health and energy crisis, which has created the highest inflation in three decades, Greece’s economy shows strong resilience and has a strong momentum: it has doubled its exports and continues to reduce its unemployment and will have the highest rate of investment growth in 2022 within the Eurogroup. He returns after many crises with self-confidence, dynamism and responsibility. Greece, he said, has finally returned to European normalcy.