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Athens Macedonian News Agency: News in English, 17-02-23
CONTENTS
[01] Negotiations must be completed within March, SEV says
[01] Negotiations must be completed within March, SEV says
Negotiations on a second review of the Greek program and implementation
of immediate tax relief measures for enterprises need to be completed
within March, the Federation of Hellenic Enterprises (SEV) said in its
weekly bulletin on economic developments.
"The agreement in principle reached in the Eurogroup meeting for the
resumption of negotiations between technical groups of the institutions
and the government, is a positive development and justifies optimism
for the completion of the second review, but without neutralizing
uncertainty. These negotiations should be completed quickly and safely
in March, if we want not to lose financially another year, and producing
a direct effect capable to lead the country to recovery and back to
capital markets,"SEV said.
SEV noted that "a reduction of over-taxation needs to be sorted out
immediately and not in 2019 as rumored, otherwise it will be an empty
gift for "spluttering Greek enterprises" and referred to the confidence
gap existing between the institutions and our country which postpones
taking difficult but vital for the economy decisions to the future. The
authors of the bulletin noted that a reduction in bank deposits caused
by uncertainty until June 2015 was repeated again but it has taken the
form of non-repatriation of export receipts abroad.
"This is highlighted in reduced inflows from tourism, transport and
other services, recorded in the external trade of the country balance,
at a time when the European and the Greek economy to some extent, have
returned to higher rates of economic activity. SEV also refers to the
financing difficulties faced by Greek companies, particularly SMEs.
More specifically, the rate of discouragement and rejection of SMEs'
applications for funding in the previous six months was around 25% -
30%, while in the Eurozone it is lower than 10%. Moreover, the average
rate for new loans between 250,000-1 million euros in Greece is 5.06%,
while in the Eurozone is 1.79%.
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