Greece sees return to 2009 GDP in 2-3 years
PARIS |
PARIS (Reuters) – Greece should return to its economic growth levels of 2009 within two or three years, Development Minister Mihalis Chrysohoidis said in an interview to appear in Thursday’s edition of the French daily Les Echos.
Chrysohoidis said that in order to achieve that return to growth, Greek exports needed to rise to 14 percent of gross domestic product from 10 percent within two years and tourism needed to grow 16 percent a year.
He said tourism revenues were set to rise 10 percent in 2011.
“We will also need European Union structural funds of around 3.5 billion euros a year. Then we will count on attracting 3 billion euros worth of foreign investment a year,” he was quoted as saying.
Trapped in its third year of deep recession and strangled by a public debt equivalent to 162 percent of GDP which few now believe it can pay back, Greece’s future rests on a new rescue package which EU leaders are scrambling to put together in time for a summit on Sunday.
The Greek parliament was preparing on Wednesday to vote on new austerity measures designed to stave off a debt default.
(Reporting by Catherine Bremer; editing by Ron Askew)
Article source: http://feeds.reuters.com/~r/reuters/INbusinessNews/~3/L652a7js6wY/idINIndia-59995120111019
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