According to Troika experts and economic ministry officials there are several encouraging signs in the Greek economy, proving that the recession will be less severe than predicted. Their meeting took place yesterday at The Economy, Competitiveness and Shipping Ministry focused on the augmentation of the inflation rate and absorption of EU community funds.

Furthermore Troika experts stressed the fact that prices remain high despite the high recession the country is facing! On the other hand Ministry officials noted that despite the extra tax burden on prices, the inflation rate fell to 1.19% in June.  Prices in certain sectors such as food have started to decline.

The Ministry presented a package of measures in order to contain & reduce prices in many products such as pharmaceutical items and tuition fees. Finally the Troika experts noted delays in promoting some operating programs such as environment, administrative reform and transport infrastructure.