Photo provided by: ING
Greece is on the rise as key players in europe Competitiveness in 2019 post-COVID-19 has improved compared to Nordic countries. Major changes in the euro areaaccording to data released by ING last week.
What about Greece? Best performers after the pandemic From the perspective of improving competitiveness, real effective exchange ratecompared to the euro area average.
According to the study, economies in southern Europe, including Greece, Italy and Spain, noticeable improvement In terms of competitiveness, compared to Nordic countries such as Germany, Austria, Belgium, and the Netherlands, Rising labor costs and decreased productivity.
Source:ING
In the aftermath of the pandemic, the northern economy appears to be experiencing a crisis Deteriorates quickly Labor costs are highly competitive compared to southern countries.
The southern countries of the euro area are Solid growth in export trendsmore than the northern countries.
At the same time, ING analysts believe: changing story This is due to structural reforms being implemented in southern Europe and an increase in investment activity, which has declined in northern countries after the pandemic.
Source:ING
Although Germany is shown to be the second largest Investment growth declines; Greece went from close to zero It reaches more than 8% in the period 2013-2019 and more than 8% in the period 2019-2023.
Among other things, the report also notes developments in Greece from earlier times. high wage growth Increase your productivity even more balanced position within the euro area.
However, ING analysts say: sustainability concerns Introducing the Nordic growth model. While Greece plays a central role in driving competitive convergence, the broader euro area needs to focus on: balance labor costs Improved productivity will help maintain competitiveness at a global level, the report says.
to follow Google News GTP Headlines Get the latest information about Greece tourism and travel.
