2. The Greek Economy Recent Developments Elias Ioakimoglou 2/10/2000

3. A. The real economy GDP and Productivity, Investment, Labour Cost and Profitability

4. Fact 1. From Crisis to Recovery Moving Average (9 terms) Annual % changes GDP Growth 1970-2000

5. Annual % changes Labour Productivity Moving Averages (9 terms) Fact 2. The revival of productivity... GDP Growth 1970-2000

6. As a % of GDP 2000-2001: OECD Forecast...due to a rise in Fixed Private Investment

7. As a % of GDP 2000-2001: DGII Forecast Investment in Machinery 1996-2000

8. Labour Compensation as a % of GDP Business sector Fact 3. Labour Cost is decreasing...

9. Gross Profit as a % of Fixed Capital (%) Manufacturing...and Profitability is rising Business Sector

10. 2000-2001: Forecast Fact 4. Domestic Demand is accelerating Annual % changes

11. Domestic Demand Profitability Private Investment Labour Cost Productivity Wages GDP Public Investment EU funds Unemployment + Flexibility in the labour market Structural Change The recovery of the late ’90s Capital devaluation Organisational change

12. B. Nominal Convergence Inflation, Public Deficit, Interest Rates and the Stock Exchange

13. Inflation is falling

14. The Public Deficit below 2%

15. Interbank Interest Rates (%) 19992000

16. Number and Market Value of Listed Companies on the Athens Stock Exchange

17. C. The Social Deficit Unemployment and Inequality

18. Thousand Employment Fact 5. The Labour Force is growing faster than Employment Labour Force

19. % of the Labour Force...and Unemployment is increasing

20. Inequality Index Labour Cost and Inequality Index Unit Labour Cost (EU=100)