Athens Macedonian News Agency: News in English, 17-03-06

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From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

[01] Economy Min Papadimitriou outlines economic development prospects

[02] Tourist arrivals to exceed 30 mln in 2017, GNTO sec gen Tryfonopoulos says

[01] Economy Min Papadimitriou outlines economic development prospects

The Minister referred in particular to the failed policies followed in Greece aiming at reducing high debt through high primary surpluses that would reduce the debt / GDP ratio and emphasis on austerity."We all know how unsuccessful this option was as the debt, after seven years of austerity and a significant haircut (PSI), increased by almost 50 pct of GDP," said Papadimitriou. "Many now recognize that high primary surpluses are catastrophic and consider that they must be drastically reduced compared with the 3.5 pct target demanded by creditors."

Moreover, he said that the government's aim for debt relief is rather important both for the sustainability and the growth prospects of the economy. Short-term measures for debt relief have already been announced while long-term measures that will support the country's development course will also be taken.

The great challenge of the Greek economy, noted the minister, is the sustainable development by attracting productive investments, stimulating extrovert entrepreneurship and supporting employment, in order to produce quality products and services with high added value, which will have a positive impact on the economy and society.

[02] Tourist arrivals to exceed 30 mln in 2017, GNTO sec gen Tryfonopoulos says

The "sun-sea" model is the basis, he said, but there is also the development of yachting, cultural tourism and gastronomy."

Tryfonopoulos estimated that the tourism industry can be turned into a Trojan Horse to export quality products.

"Tourism is an important asset of the Greek market; tourism is in our DNA and Greece can be in the top ten tourist destinations by 2020," he stressed adding that the growth in tourism should not be attributed to widespread instability in neighboring countries.

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