Greece Permanent Virtual Exhibition and Business Directory

The birthplace of democracy, philosophy and poetry, Greece is also home to one of Europe's most pro-business governments. In 2010, after the country's debt crisis and under immense pressure from the EU, the Greek government has instituted an austerity program that includes scaling back government spending, shrinking the public sector, curbing tax evasion, reforming health care and the pension systems, and improving the standing of Greece as an economic competitor.

As required by a joint loan from the IMF and the EU valued at €110 billion, the Greek government has reined in spending and has met and surpassed all loan requirements. Greece should recover over the course of the coming decade, particularly with its high literacy rate (96%) and its improved infrastructure, which was overhauled prior to the 2004 Olympic Games in Athens.

Other key industries include chemicals, food and tobacco processing, metal processing, mining, petroleum and textiles. Greece's strongest industry, however, outside tourism, is agriculture, and Greek companies in this sector are famous for exports such as barley, beef, corn, dairy products, olives, potatoes, sugar beets, tomatoes, wheat and wine.

Doing Business in Greece

According to the data indicated in the 2011 State Budget, the deficit of General Government decreased by 6% of GDP in 2010 year-on-year (from 15.4% to 9.4% of GDP), while in 2011 it is anticipated to decrease by further 2% to reach 7.4%.

Following the 2010 revision by Eurostat, the deficit is expected to fall by €14,250 million, reaching €21,900 million.  Read Full Article

Investing in Greece

The Greek economy has grown at an average annual rate of 3.8% from 2004-2008, one of the highest rates in the Euro zone. Despite international economic uncertainty, growth is expected to continue. Traditionally, the Greek economy is based on agriculture. The sector represents 3% of the GDP and employs around 12% of the active population. The main crops are tobacco (largest European producer) and cotton (fifth largest exporter in the world).   Read Full Article