by Organisation for Economic Co-operation and Development in [Paris] .
Written in English
|Statement||by W. Ryser and J. Vodoz.|
|Series||Problems of development|
|LC Classifications||HT395.G74 R9|
|The Physical Object|
|Number of Pages||83|
|LC Control Number||68007305|
Greece - Greece - Agriculture, forestry, and fishing: Greece’s agricultural potential is hampered by poor soil, inadequate levels of precipitation, a landholding system that has served to increase the number of unproductive smallholdings, and population migration from the countryside to cities and towns. Less than one-third of the land area is cultivable, with the remainder consisting of. Although the economy of Greece had improved in recent decades due to industrial development and tourism, the country is getting out of a large and severe economic crisis. The currency of money in Greece since January is the euro, which replaced the preparation for the Olympic Games of gave an impulse to the Greek economy. In the last years, the country faced a severe . Greece’s economy would benefit from further diversification Four major sectors (out of ten) account for almost 80 per cent of the economy: domestic trade, transport and food services; public administration, education and social services; real estate activities; and industry. By this measure, Greece has the least diversified economy among all. suffered badly because her economy was heavily dependent on tourism and construction, two sectors badly hit by the sharp fall in demand and production In Greek exports collapsed by nearly a fifth (causing a large inward shift of AD) and the Greek fiscal deficit grew from 5% of her national income in to nearly 14% in
Timber Industry Development Division (TIDD) History The Timber Industry Development Division (TIDD) has evolved from various post-independendce attempts, dating back to the early s, at rationalizing the utilization of Ghana's timber resource base along sustainable and development . The economic importance of an industry can be measured by the share of its gross value added (GVA) in the economy. In , the GVA of wood-based industries in the EU was EUR billion or % of the total manufacturing industry. The distribution of GVA across each of the four wood-based activities in is presented in Table 2. Greece’s manufacturing sector is a meagre 8% of the economy, a fraction of Germany’s (which the World Bank puts at 22%). Supporting entrepreneurship would boost Greece’s supply side and increase social welfare by diversifying the sources of growth and increasing job opportunities. Greece remains subject to strict policy conditionality, but this will have to be abandoned to deal with the coronavirus pandemic. This will have a major negative effect on growth in , compounding the difficulties of dealing with long-term structural problems.
Greece’s economic freedom score is , making its economy the th freest in the Index. Its overall score has increased by points, primarily because of a higher government integrity. Industrial production in Greece dropped percent over a year earlier in September , following a 4 percent fall in the previous month. It was the fifth successive decline in industrial activity, amid the coronavirus pandemic. Output shrank for manufacturing (-4 percent) and mining & quarrying ( percent). On the other hand, production of both electricity supply ( percent) and. Greece is a major beneficiary of EU aid, equal to about % of annual GDP. The Greek economy averaged growth of about 4% per year between and , but the economy went into recession in as a result of the world financial crisis, tightening credit conditions, and Athens' failure to address a growing budget deficit. contribute to the long-term economic development of nations, and not only to short-term revenue generation. High-quality institutions in the present, and planning for the future, can turn the so-called ―resource curse‖ into an opportunity. The current paper discusses both the economic importance of natural resources and how, by.