2022代写广告Brief History Of Greece Economics Essay
希腊公民是最早的文明公民之一。希腊仍然有许多古老的遗迹，有的超过4000岁。希腊也有许多中世纪教堂。这使得希腊的一个非常受欢迎的旅游区。希腊也是许多众所周知的雕塑，绘画，陶艺，诗歌和剧本创作的产地。希腊被认为是欧洲文明的发源地，可以追溯到距今5000多年之前。许多古代遗迹可以追溯到超过4000年，一些洞穴呈现生命的迹象在一万年前。古希腊的人可能来自北非。古希腊产生了许多哲学家和学者，如苏格拉底和柏拉图。这些希腊人对当前的文化做出了显著贡献。他们创造了第一个民主政府，发现了许多科学原理，并建立了数学。希腊人也促成了艺术界的繁华，其中包括写伊利亚特和奥德赛的荷马，以及其他制作雕塑，绘画，陶艺，诗歌和剧本创作的艺术家。竞技体育是希腊生活的重要组成部分。第一届奥运会在希腊举行于公元前776年。古希腊人没有一个强大的，统一的军事力量。Brief History Of Greece Economics EssayThe people of Greece were one of the earliest civilizations. Greece still has many ancient ruins, some over 4000 years old. Greece also has many medieval churches. This makes Greece a very popular tourist area. Greece is also well known for its sculptures, paintings, pottery, poetry and playwriting.GREECE is considered the birthplace of European civilization, dating back over 5000 years. Many of the ancient ruins date back over 4000 years, with some caves showing signs of life over 10,000 years ago. The ancient Greek people may have come from northern Africa.Ancient Greece produced many philosophers and scholars, such as Socrates and Plato. These Greeks contributed significantly to the current culture. They created the first democratic government, discovered many scientific principles, and created mathematics. The Greeks also contributed to the artistic community with Homer, who had wrote the Iliad and The Odyssey, and other artisans creating sculptures, paintings, pottery, poetry and playwriting.Competitive sports were a major part of Greek life. The first Olympic Games were held in Greece in 776 BC.The ancient Greeks did not have a strong, unified military force. This made them an easy target for other invading people. In ancient times, Greece was conquered by the Romans. Others controlled Greece at various times. In the 15th century, the Turks invaded Greece and ruled for about 400 years. The Greeks finally got their independence in the early 1800s.Geographical location:Greece is located in southern Europe, forms an irregular-shaped peninsula in the Mediterranean with two additional large peninsulas projecting from it: the Chalcidice and the Peloponnese.The Greek islands are generally subdivided into two groups, according to location:The Ionian Islands (including Corfu, Cephalonia, and Leucas) west of the mainlandThe Aegean islands (including Euboea, Samos, Chios, Lesbos, and Crete) to the east and south.North-central Greece, Epirus, and western Macedonia are all mountainous. The main chain of the Pindus Mountains extends from northwest Greece to the Peloponnese.Greece has more than 2,000 islands, of which about 170 are inhabited; some of the easternmost AEGEAN islands lie just a few miles off the Turkish coastArea:-Total: 131,940 sq kmland: 130,800 sq kmwater: 1,140 sq kmMajor cities in Greece are: Capital–Athens. Greater Athens (pop. 3,566,060), Iraklion (137,711), municipality of Thessaloniki (363,987), municipality of Athens (772,072), Greater Thessaloniki (1,057,825), Piraeus (175,697), Greater Piraeus (466,065), Patras (171,616), Iraklion (137,711), Larissa (126,076)The Greek landscape is conspicuous not only for its rugged beauty but also for its complexity and variety. Three elements dominate: the sea, the mountains, and the lowland. The southernmost part of mainland Greece, the Peloponniso peninsula, connects to the mainland only by the narrow isthmus at the head of the Gulf of Korinthiakos (Corinth). Greece’s mountainous terrain covers some four-fifths of the country. A series of mainland Mountain chains running northwest-southeast enclose narrow parallel valleys and numerous small basins that once held lakes. only about one-fifth of the country’s land area, the lowland has played an important role in the life of the country.Rocky highland areas of Greece, which are characterized by their limestone formations, the soil is thin and relatively poor. The valley areas contain clay like soil known as terra rosa, reddened earth that originates from the residue of limestone rocks. These areas are adequate for farming. The most fertile regions, however, are along coastal plains and beside rivers. The clay and loam soils that predominate there may even require drainage prior to cultivation.Irrigated land: 14,220 sq kmClimate: Temperate: – mild, wet winters; Hot, dry summersMost of Greece has a mild climate. Summers are warm and dry, particularly in the southern coastal areas. Rain is heavy during the winter months, with some mountain areas getting snow.Greece is mountainous and rocky terrain, with the occasional plain. The Pindus Mountains start in northern Greece and stretch south to the Gulf of Patra. In the southern part of Greece are the Peloponnesus Mountains.About 20% of Greece is made up of islands. Crete is a large island located in the Mediterranean Sea. It is a popular tourist area for its beautiful mountains, coastline, and many ancient ruins. Most of the people in Greece live along with Coast or along rivers and harborsGovernment:Greece is a parliamentary republic. The current constitution, introduced in 1975 following the collapse of the 1967–74 military dictatorship, initially gave considerable powers to the president, but revisions to the constitution in 1986 made presidential powers largely ceremonial. The president, who is the head of state, is elected by the unicameral Hellenic Parliament (Vouli) and may serve two five-year terms.The Greek system of government is highly centralized, and the powers of local governments are severely limited by their inability to raise revenue; decentralization was one of the platforms of the constitutional amendments of 2001.Agriculture, forestry, and fishing:Greece’s agricultural potential is hampered by poor soil, inadequate levels of precipitation, a landholding system that has served to increase the number of unproductive smallholdings, and population migration from the countryside to cities and towns. Less than one-third of the land area is cultivable, with the remainder consisting of pasture, scrub, and forest. Only in the plains of Thessalia, Makedonia, and Thraki is cultivation possible on a reasonably large scale. There corn (maize), wheat, barley, peaches, tomatoes, cotton and tobacco are grown.Other crops grown in considerable quantities are olives, grapes, melons, potatoes, and oranges, all of which are exported to other EU countries. Greece has been exporting hothouse-grown vegetables to northern Europe during the winter. Greek wine, including the resin-flavoured retsina, has been produced primarily for domestic consumption, but by the 1990s Greece was producing wines of higher quality for the world market. Sheep, goats, pigs, cattle, and chickens are raised for export and local consumption.Although inefficient, Greek agriculture has benefited substantially from EU subsidies, and there are many signs of growing rural prosperity. In general, however, the importance of the agricultural sector to the economy is diminishing.Forests, mostly state-owned, cover approximately one-fifth of the land area, but they are prone to major forest fires. Forest products make no significant contribution to the economy.Greece’s extensive coastline and numerous islands have always supported intensive fishing activity. However, overfishing and the failure to conserve fish stocks properly, a problem throughout the Mediterranean, have reduced the contribution of fishing to the economy.Transportation and telecommunicationsIn the middle of the 20th century all the country’s villages become accessible to wheeled traffic and linked to the national electricity grid. There are no navigable rivers and only one waterway, the Korinthiakós (Corinth) Canal, which divides the Pelopónnisos from mainland Greece. Although the canal significantly shortens the sea route from the Italian ports to piraeus(the port of Athens), it has never fulfilled the economic expectations of its builders, because of its shallow draft and narrow width. There are also major ports at Patras and Thessaloníki.Railway construction began in the 1880s and, given the rugged train of the country, involved some difficult feats of engineering. Today the extensive railway system includes a narrow-gauge railway network in the Pelopónnisos. A program to modernize the railway system with the aid of EU funding commenced in the mid-1990s. Public transport in the Athens metropolitan area is heavily dependent on an often overcrowded and sometimes unreliable bus network. Much of Athens is serviced by the Metro; construction of that subway system began in the 1990s but proceeded relatively slowly, as the digging unearthed a treasure trove of antiquities. More subway lines are planned for the Metro, which is supplemented by a small suburban railroad network linking the northern suburb of Kifisiá with the port of Piraeus.#p#分页标题#e#The extensive nationwide bus-and-ferry network has been augmented since the 1960s by the development of a flight network linking Athens with a few dozen domestic airports. The country’s main airports are in suburban Athens and Makedonía, near Thessaloníki. International airports are found also at Alexandroupoli in Thraki and Andravida in the northwestern Peloponnisos, while others service the country’s important tourist destinations on the islands. For several decades Olympic airlines was owned by the government and had a virtual monopoly on air travel within Greece, but in 2009 it was acquired by a private investment group. Meanwhile, several small, privately owned airlines began offering limited service, primarily within Greece.In the early 21st century the saturation rate of cellular phone use was extremely high, with almost as many subscriptions as there were citizens.Tourism:Greece and the Greek Islands are one of the favourite tourism destinations in Europe. Every year, the country welcomes millions of visitors from all over the world.Info about tourism in GreeceGreece mainland and the Greek islands are one of the favorite holiday destinations in Europe.In fact, Greece comes in the 15th place in the world rating of tourist destinations, since, according to the National Statistical Service of Greece, it receives more than 15 million tourists every year, after countries such as the USA, China, Spain and Great Britain.Most tourists come to Greece from Europe, especially the EU countries, and from the USA, while fewer originate from the other continents.Greece is a famous country, popular for its clean beaches and its long history. There are hundreds of archaeological and historical sites to visit in Greece that gloriously depict the country’s past. Its landscape is mainly mountainous and the terrain is not very fertile, except for some valleys scattered along the Greek mainland. However, Greece is surrounded by water, in particular the Aegean and the Ionian Sea. The country consists of more than 1,400 islands and islets, but only 169 of them are inhabited.These Greek islands form, one by one, a beauty of nature. They are the most popular Greek destinations, especially in summer. Big or tiny, green or infertile, ideal for cosmopolitan or relaxing vacations, one thing is for sure: all these islands have the necessary requirements and facilities to offer you memorable vacations!Maritime industry:Greece Maritime Industry is one of the most developed industries of the country. The importance of the Greece Maritime Industry can be well assessed from the fact that Greece is considered to be one of the most powerful maritime countries in the world.Factors Supporting Greece Maritime Industry:The growth of the Maritime Industry of Greece has been supported by a number of important factors, which should be given special attention. The geography of Greece has played an important role behind the prominence of the Maritime Industry of Greece. There are countless shores and islands in this country that primarily accounts for the important of the Greece Shipping IndustryShipping has been important for the economy of Greece from the historical days, but the real process of rapid development of the Greece Maritime Industry started after the independence of the country. It has been estimated that the present fleet structure of Greece is made up of almost 3,500 vessels, which sums up to nearly 20% of the total world fleet. The total shipping in Greece also accounts for 60% of the total European Union Shipping.Latsis, Onassis and Niarchos are some of the important maritime companies of Greece and play an important role in the ongoing development of Greece Maritime Industry.Trade( import and export):At the beginning of the 21st century, about two-fifths of Greece’s trade was with the other member countries of the EU, and its main trading partners were Germany and Italy. The principal exports included food (especially fruit and nuts), clothing and apparel, machinery, and refined petroleum and petroleum-based products. Machinery and transportation equipment, chemicals and chemical products, foodstuffs, ships and boats, and crude petroleum are the country’s main imports.The emergence of a consumer society has created a huge demand for imported consumer goods—in particular, automobiles—which has had negative consequences for the country’s balance of trade. In the early 21st century, the deficit in the balance of payments was offset by borrowing, by limited foreign investment, and, to a lesser extent, by remittances from emigrants.Overview of EconomyGreece’s economy underwent rapid growth in the post-World War II period, but it has remained one of the least developed in the European Union (EU). The country’s natural resources are limited, its industrialization process has been slow, and it has struggled with the balance of payments. Shipping, tourism, and remittances from expatriate workers are the mainstays of the economy.Although the Greek economy traditionally has been based on free enterprise, many sectors of the economy have come under direct or, through the banks, indirect government control. This process of establishing state ownership of the economy has been associated with both right and centre-left governments; however, in the first decade of the 21st century, the centre-right government—partly in response to pressure from the EU—showed an inclination for privatizing some sectors. Trade unions, which are fragmented and highly politicized, wield significant power only in the public sector. Measures taken since the late 1980s, however, have begun to decrease the degree of state control of economic activity. Following entry into the European Economic Community, Greece became a major beneficiary of the Common Agricultural Policy, which provided subsidies to the country’s generally inefficient agricultural sector and for projects to improve its infrastructure. Rates of productivity, however, have remained low for both agriculture and industry, and the development of the country’s economy has lagged behind that of its EU partners. Unemployment, which historically has been low, grew in the last decades of the 20th century as temporary migrant workers returned to Greece and as demand for immigrant labour has declined in other European countries. Some sectors of the economy, notably shipping and tourism, have shown considerable dynamism but have been highly vulnerable to international developments.The land within Greece is not very productive for farming. The Greeks have struggled to build a strong economy. The standard of living in Greece is lower than other European countries. Manufacturing is becoming one of the key industries. Tourism is also very important, particularly along the Aegean Sea coast. Some farming includes wheat, fruits, vegetables, olives and grapes. Some areas support goat and sheep ranching. Fishing also continues to be an important industry.Analysis of Greece Economy:GDP (PPP) : $318.1 billion (2010 est.)Per Capita Income: $29,600 (2010 est.)The Growth Rate: -4.5% (2010 est.)Inflation rate : 4.7% (2010 est.)Unemployment rate: 12.5% (2010 est.)GDP – composition by sector: agriculture: 3.3%, industry: 17.9% services: 78.8% (2010 est.)Natural resources available in Greece are Bauxite, lignite, oil, marble.Agriculture (3.3% of GDP): Products–sugar beets, wheat, maize, tomatoes, olives, olive oil, grapes, raisins, wine, oranges, peaches, tobacco, cotton, livestock, dairy products.Manufacturing (17.9% of GDP): Types–processed foods, shoes, textiles, metals, chemicals, electrical equipment, cement, glass, transport equipment, petroleum products, construction, and electrical power.Services (78.8% of GDP): Transportation, tourism, communications, trade, banking, public administration, defense.Trade:Exports: (2010 estimated)– $22 billion: the products which are exported are manufactured goods, agricultural products, beverages, tobacco, petroleum products, cement, chemicals. Major markets are as follows Germany, Italy, Cyprus, Bulgaria, Turkey, U.K., France, U.S., Romania, SpainImports: (2010 estimated) — $64.55 billion: basic manufactures, food and animals, crude oil, chemicals, machinery, transport equipment. Major suppliers–Germany, Italy, China, France, France, Netherlands, U.S, Russia.Economic Survey of Greece:Definition: This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at purchasing power parity (PPP) exchange rates is the sum value of all goods and services produced in the country valued at prices prevailing in the United States. This is the measure most economists prefer when looking at per-capita welfare and when comparing living conditions or use of resources across countries#p#分页标题#e#So as from the data we have seen that due to debt crisis in Europe. There is a decline in Around 15 million (approx) in current year GDP as it is mainly due to the Govt policy, Tax Evasion Policies & Eurozone entry. So the Govt is planning some measures to fight against these practices & also to increase the value of Euro in the Economy.Per Capita Income:In this graph Per capita income of the Greece is increasing or decreasing very slightly till 2008, But the total demand was more and exports were less but after recession everything changes total domestic demand came down drastically due to recession or crisis. That——s why the the per capita income of the Greece gone come down by this margin. As before the crisis Greece was one of the fastest developing economies in the world as there is a marginal increase in the per capita income of Greece as we see in the Graph for 2000 itself till 2008.Growth Rate :In this Graph from the data we can see the pattern, because of the crisis the GDP growth level is becoming down as after 2008, in that they have started adjustment program to deal with the economic crisis and if fiscal and monetary reforms are fully implemented, the debt-GDP ratio could peak in 2013-2014. The currency of Greece since 2002 is euro, which replaced the previous currency drachma, Greece is currently in debt which is threatening the eurozone, still They also revealed an ambitious plan to fight tax evasion and raise the revenues in the coming couple of years by fighting against the recession in an attempt to further cut its budget deficit so that it can regain the market confidence once again & make the path to Developed Economy.Inflation Rate :In this Graph We Can see that at the At the time of Globalization , government had to refine its economic policies to join EU, their main plan was to reduce the government deficit to 2% and also putting their best step ahead to strengthen the monetary policy. As a result inflation came down to 2.6% in 1999. Private consumption and investment are contracting continuously & from that there is constant growth in the Inflation rate from there. The only effective contribution to growth is coming from the ongoing reduction in the trade deficit & govt Policies. Consumer prices of Greece increased sharply in the year 2010, however now inflation is clearly coming down and is expected to come down to 2.5-3% in the year 2011.Unemployment Rate:In this Graph we can see that there is minimal increase in the rate of unemployment as it was seen that in the period of 1990——s there is a time or change in policies that lag behind all the problems & also in the before the oil crisis the unemployment rates in Greece were really low but after the rate of growth of unemployment increased in the economy. Due to the stringent measures taken by the Government of Greece, a large number of employees in the public as well as the private sector has to lose their jobs, salaries of the employees were also reduced and taxes were increasing continuously. Hence inflation also increased.Industrial Production Growth Rate:In This Graph we can see that there is an ups & down growth rate in the industrial production from 1999. As in after the euro crisis of 2008, the industrial production rate dips down to -8.8% in the year 2009 due to that crisis the funding situation remains tight in the country. Although deposit outflows have slowed down, wholesale funding markets have remained closed so far, asset quality continues to deteriorate, led by consumer credit which constitutes the bulk of household debt. These are the factors led to the negative effect on the Industrial growth rate.Public Debt:In the Graph we can see that after recession the public dept is increasing, hence government has to increase the taxes and interest rates to repay the debt. After that Crisis the banking sector fully dependent on the ECB’s extraordinarily loose liquidity policy, it also led to the less credit repayment to bank.Exports:In this Graph we can see that Greece mainly exports: food and beverages, manufactured goods, petroleum products, chemicals, textile. The major export partners of Greece are Italy, Germany, Bulgaria, France and U.S. Greece is struggling to bring down the public sector deficits so for this it should become more competitive and increase the exports to bring more revenue in the country.Imports:In this Graph we can see that till recession Greece is able to repay the payments made to exports but after the recession the value had been considerable down by some value as their capacity to repay the importers had also gone down & also after recession imports also become costlier. Import commodities of Greece are: machinery, transport equipment, fuels, chemicals Major import partners are Netherland, Germany, France, Romania and Bulgaria etc.Greece’s Debt Crisis: Overview, Policy Responses, and Implications:Rebecca M. Nelson, CoordinatorAnalyst in International Trade and FinancePaul BelkinAnalyst in European AffairsDerek E. MixAnalyst in European AffairsIntroductionIn the early 2010 when Greece and many other countries facing a debt crisis-they turned to European countries and IMF for loan in order to avoid defaulting of their debt.Greece’s debt crisisAfter the independence from the Ottoman Empire, Greek society created the condition underlying the current crisis like inefficient public administration, endemic tax evasion and wide spread political clientelism.Euro adoption, capital inflow and lax enforcement of eu fiscal ruleIn the year 1990 Greece prepared to adopt euro, because borrowing cost, interest rate were dropped. Inflow of capital was used for current consumption rather than to repay the debt or increase the competiveness of the economy.EU policies were also failed to check the public debt.The triggers: global financial crisis and revelations of misreported dataThe Greece government relay upon international capital market to repay the budget deficits and trade deficits and maintaining the confidence of the investors. As the result of high govt. debt investors started demand high interest rate.EU (European Union) also includes Greece as a preferred business partner, EU clearly represents a large number of customer base close to 500 million Potential customers. If the entire block of 27 countries is considered to be a single Market. Greece economic, trade & investment policies generally welcome foreign investment basically to promote employment & capital formation. Till the first half of 2008, before the onset of global economic slowdown, investments in the EU has been largely a result of companies in high growth markets. As India has to combine their competitive advantage with the latest technological strengths of companies of EU with the high quality & availability of manpower.Greece delegation to India:Deputy Foreign Minister Petros Doukas paid an official visit to India, heading a delegation of Greek executives and business leaders."Greece is the closest EURO-zone country to India … We are aiming at the creation of joint ventures, the exportation of know-how, and products. We are calling on the Indian side to invest, taking advantage of law 3427/2005, that permits the operation of regional and head offices with a very favorable tax status in Greece, a multiply attractive destination," Mr. Doukas said. Representatives of the film industry, fashion world and SMEs, as well as representatives of universities, museums, the Athens stock exchange and shipping companies participated. The mission also includes representatives from the construction, foodstuffs, IT and pharmaceutical sectors, and from Hellenic Aerospace Industry (HAI) and the National Port Development Centre.Indo – Greek Business Foundation:One and a half decades into the process of economic liberalization and global integration, India, today, is well established as a credible business partner, preferred investment destination, rapidly growing market, provider of quality services and manufactured products; and, stands on the threshold of years of unprecedented growth, With the energy and vitality of its huge population, diverse colorful culture and rich history, India straddles a singular position in today’s world, bridging the timeless with the contemporary. As the world’s largest democracy, the depth, breadth and maturity of its people and culture have been a symbol of positive energy and fount of inspiration to people around the world for generations. They are the key to the unparalleled range of inspiration and the resources India has to offer Greece and the world.The IGBF was created with the vision of injecting a new vitality into Indo-Greece relations. It aims to be a catalyst, applying its unique methodology to the creation of a special relationship between these two great nations that will grow organically, setting off a chain reaction of activities that promote growing understanding interaction and interdependence. We believe this strong India-Greece relationship will be the cornerstone, and form a true global partnership in the new century. This website is just one of the IGBF’s initiatives to change India-Greece relations from passive to an active and growing relationship. It provides a brief introduction to the people who are actively working to achieve this, and the ideas, energy, and initiatives promoted by the us.Effect of Greece on Indian business:The Indian equities market corrected last week after the Greek prime minister announced a referendum on the bailout deal, risking a new euro zone crisis. The situation, however, eased on Friday after Greece backed off the referendum plan. The 30-share Sensex dropped over 242 points, or 1.36%, to end the week at 17,562.61. The 50-share Nifty fell over 76 points to 5,284.20. It was a rare week when both BSE mid-cap and small-cap indices outperformed the Sensex, logging marginal gains over the key benchmark.What does it take to export or import in Greece?According to data collected by Doing Business, exporting a standard container of goods requires 5 documents, takes 20 days and costs $1153. Importing the same container of goods requires 6 documents, takes 25 days and costs $1265 .Globally, Greece stands at 84 in the ranking of 183 economies on the ease of trading across borders (figure 9.1). The rankings for comparator economies and the regional average ranking provide other useful information for assessing how easy it is for a business in Greece to export and import goods.Indian in GreeceThere is a considerable Hindu and Sikh community in Athens. There are 25 PIOs and 12,000 NRIs in Greece. Indians comprise 0.05% of the Greek population of 10 million. Till the 1970s, one route of entry was for Indian seamen jumping ship to slip into the country illegally. Following the deteriorating conditions in Lebanon, more than 2,000 Indians living there left for Greece and stayed on quietly after the expiry of their visas. On January 1, 1998, the Greek government granted a general amnesty to all illegal immigrants, thus legalizing the status of Indian immigrants also. Most Indians hold low to middle-level positions in shipping companies, banks and other companies. Some of them have their own businesses. Illegal Indian immigrants are working in agriculture, industry and shops or as domestic help. As permission of the Greek government is required for setting up any place of worship by foreigners, there are only make-shift gurudwaras in a few areas. Indians in Greece have no role in the country’s politics.Conclusion:Greece has made great progress in dismantling its old economic system, which was based on import substitution, high tariffs and subsidies, anti-competitive behavior, and extensive government intervention in the economy. The leadership has moved to reduce the government's role in the economy and to promote private sector investment and competition. It has significantly reduced tariffs and export subsidies, loosened exchange controls, cut the secondary tax on corporate dividends, and improved enforcement of intellectual property laws. Greece is a member of the World Trade Organization (WTO). Greece is also an eligible country for the benefits under the European Union (EU). Greece has done away with most import permits except on used products and products regulated by international treaties.After analyzing the business opportunity and environment in Greece, as we have already mentions the favorable reason for doing the business in Greece, I can say that it is the favorite destination for the global companies and investors. Country provide their labor cost are relatively lower, provide a good infrastructure. Its finance industry is on a growth stage as after recovery from the crisis. Greece is the world leader in tourism and maritime industry, is continually adapting to change in local and international world condition, and making a significant contribution to economic activity and job creation.As after the crisis the country was try to reduce the budget deficit from 15.6% in 2009 to 3% in 2014, taxes remain the main cause of them. The country in which major exporters & import both were from Germany the exports was 21% and the imports were 35%. The main product that exported to the Germany is food, drinks & tobacco it was 23% & import machinery & transport equipment was 22%the main growth of financial crisis was 13.5 % growth that outstripped the 8.75%.Unemployment also rising in the country by 15.1% in January 2011. The inflation is rising at 5% just due from the indirect taxes. As after that from the export & import condition of Greece the country is pretty stabilized. The result is an impressive improvement in the current account balance from about 15%-GDP deficit in 2007-08 to single digits in 2011 i.e. 8%. In April 2009 the budget deficit was expected to be 3.7% but in October it shows a increase of about 12.6% & in the end the GDP & EUROSTAT recently finalized the adjustments by declaring the deficit of 15.4% The road to sound public finances is paved with severe spending cuts, tax hikes and fiscal and economic Reforms The deficit has been brought back to 10.5% GDP in 2010 (7.5%-GDP in 2011). The Legislated reforms were here to facilitate business start-ups potentially generate a major improvement in the World Bank’s Ease of doing business ranking from 109th to 79th. Greece industries constantly contributing to the GDP from food & beverages, manufactured goods, petroleum products & Textiles industry keeping the wheel of the economy in the right path. All I can say it has developed and established manufacturing base and make an opportunity to increase the country's growth. At last we can also say as Greece, Due to its world's fasting growing leisure-and best country for travel destination, the international tourist arrivals tend to increase with the years, as it is the fastest growing sector of economy.