Greece will get back to levels of economic output recorded in 2009 within two to three years, economy minister Michalis Chrisochoidis says in an interview to be published Thursday, although it will take around 10 years for the country to complete the necessary changes to its economic model.
“For that, exports will have to rise from 10% to 14% of GDP in two years and tourism will have to grow 16% annually,” he is reported as saying by French business daily Les Echos.
“As for privatizations, selling state assets as quickly as possible isn’t a goal in itself, even if we think we’ll be able to reach the objective of taking in EUR4 billion in 2011” from privatizations, he says.
He also says Greece will need around EUR3.5 billion a year in structural funds from the European Union and is counting on attracting EUR3 billion of foreign investment a year.
(source: lesechos, Dow Jones)
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