Greek Exports Projected to Fall in 2015, SEBE Report

exportsGreek merchandise exports are expected to fall in 2015, the Federation of Northern Greece Exporters (SEBE) said on Wednesday. In a report, SEBE said that the introduction of capital controls in the country deteriorated an already burdened situation in the market and were having very heavy consequences on the country’s exports, with industrial production and exports projected to fall further in the coming months.

“Difficulties in purchasing raw materials and products and an increase in unemployment in June offered a warning signal over a further weakening of economic activity in the second half of the year,” SEBE said, adding that loosening restrictions on payments to foreign suppliers must be accelerated, becoming top priority for the government which will be formed after Sunday’s general elections.

“Our demand is to automatically approve, without any bureaucratic procedures and time delays, all business transactions abroad linked with the productive/manufacturing procedures and the import of raw materials and other products for enterprises,” the Federation said, adding that authorities must work towards boosting liquidity in the market – a demand placed repeatedly by SEBE in the last five years.

SEBE also asked for completion of all pending financial transactions between the state and the private sector.

Specifically for Turkey, Greek exports rose 11.38% (excluding oil products) in the January-July period this year to 423.64 million euros, compared with the same period in 2014, while imports from Turkey (excluding oil products) totaled 542.42 million euros up 2.19% from last year.
(source: ana-mpa)