economical status-of-greece (3)
TRANSCRIPT
ECONOMICAL STATUS OF GREECE
1st Gymnasium of Rhodes
GREEK ECONOMY - OVERVIEW€Greece has a capitalist economy with a public
sector accounting for about 40% of GDP and with per capita GDP about two-thirds that of the leading euro-zone economies.
€Tourism provides 18% of GDP. €Immigrants make up nearly one-fifth of the work
force, mainly in agricultural and unskilled jobs.€Greece is a major beneficiary of EU aid, equal to
about 3.3% of annual GDP.
ECONOMIC CRISIS - ANNALS 2007-2009: The Greek economy averaged growth of about 4% per year.
2009: The economy went into recession as a result of the world financial crisis, tightening credit conditions. Under intense pressure from the EU and international market participants, the Greek government accepted a bailout program that called on Athens to cut government spending, decrease tax evasion, overhaul the civil-service, health-care, and pension systems, and reform the labor and product markets.
2010: The International Monetary Fund and euro-zone governments provided Greece emergency short- and medium-term loans worth $147 billion so that the country could make debt repayments to creditors. (May 2010)
2014: The Greek economy began to turn the corner on the recession. Greece achieved three significant milestones: balancing the budget - not including debt repayments; issuing government debt in financial markets for the first time since 2010; and generating 0.7% GDP growth — the first economic expansion since 2007.
2015: Austerity measures reduced the deficit to 3%. On 13 July, Eurozone leaders reached a provisional agreement on a third bailout programme. Refugee crisis.
GREEK ECONOMY IN NUMBERS: GDPGross Domestic Product per inhabitant, PPP Euro
1995 2000 2005 2010 20120
100
200
300
400
500
600
700
800
European Union (28 countries)GreeceItalyHungaryPoland
Source: EUROSTAT DATABASE 9/2013. Extracted by Karsten Duus.
GREEK ECONOMY IN NUMBERS: TRADE BALANCE
1990 2000 2010 2012
-30000
-25000
-20000
-15000
-10000
-5000
0
5000
10000
15000
GreeceItalyHungaryPoland
Trade balance in million euro, EU 27
Source: Eurostat Database 12/2013 extracted by Karsten Duus
GREEK ECONOMY IN NUMBERS: INFLATION
European Union (28 countries)
Greece Italy Hungary Poland0123456789
10
2000200520102013
Source: Eurostat Database 5/2014. Extracted by Karsten Duus.
annu
al c
hang
e in
per
cent
MAIN PILLARS OF GREEK ECONOMYAgricultural production
• Agriculture (olives, cotton, cereals, figs, tobacco, etc)• Livestock (cattle, sheep, chickens, etc)• Fishery
Tourism
• An important percentage of Greece's national income comes from tourism.
• According to EUROSTAT statistics, Greece welcomed over 19.5 million tourists in 2009, which is an increase from the 17.7 million tourists it welcomed in 2007.
Small size businesses • Manufacturing sector• Food industry• Technology
Maritime industry• Shipping is one of the country's most important industries.• It accounts for 4.5% of GDP, employs about 160,000 people (4%
of the workforce), and represents ⅓ of the country's trade deficit.
European Union (28 countries)
Greece
Italy
Hungary
Poland
0 10000 20000 30000 40000 50000 60000
2013201020052000
GREEK ECONOMY IN NUMBERS :ECONOMIC ACCOUNTS FOR AGRICULTURE, CEREALS
millions of €
Agriculture products :wheat, corn, barley, sugar beets, olives, tomatoes, wine, tobacco, potatoes; beef, dairy products
CONSEQUENCES FROM THE ECONOMICAL CRISIS
Economical crisis
GREEK ECONOMY IN NUMBERS: POVERTY
EU (28 countries) Greece Italy Hungary Poland0
5
10
15
20
25
30
35
200520102012
Severely materially deprived people, percent of total population
Source: Eurostat Database. Extracted by Karsten Duus
GREEK ECONOMY IN NUMBERS: UNEMPLOYMENT RATE
European Union (28 countries)
Greece Italy Hungary Poland0
5
10
15
20
25
30
2000200520102013
Source: Eurostat Data 1/2014. Extracted by Karsten Duus.
Unemployment rate - seasonally adjusted, %, January
GREEK ECONOMY: REFUGEE CRISISGreece’s shores were the gateway to the EU for more than 856,000 refugees and migrants last year, according to UN Refugee Agency figures. Flows have slowed significantly this year, but some 50,000 people remain in the country, with a small number still arriving daily. This situation is a big challenge for the Greeks as well as they face big economic problems
GREEK ECONOMY: REFUGEE CRISIS
Thank you for your
attention!!!
Grazie per l'
attenzio
ne !! Dziękuję za uwagę !!Köszönöm a figyelmet !!
Ευχαριστώ για την προσοχή σας!!
SOURCES http://i-use.eu/ Statistics for education
https://www.cia.gov/library/publications/the-world-factbook/
http://frontex.europa.eu/ http://data.worldbank.org/ http://www.unhcr.org/ https://en.wikipedia.org