Pressing on with Privatizations, Spending Cuts and Reforms

摘要

Further deterioration in the Greek economy is expected this year and the government faces a ballooning budget deficit. However, it is determined to get that deficit under control and plans a number of privatizations to that end. For investors, traditional sectors like shipping and tourism offer good investment prospects as does the energy sector. Even the nation's banks look pretty good when compared with others in the world.rnLater than other countries in this global economic crisis, Greece's economy didn't contract until the second quarter of this year, its first such contraction in 16 years. Hurt by a slump in exports and investment along with fewer tourists, GDP shrank 0.2 percent year-on-year in the quarter following a sharp slowdown in growth to 0.3 percent in the first quarter of 2009.