Financial and Business News

Delay of the economy hit the export of Greece

The global delay of the economy and the strong EUR, both hit the export of Greece in the first 5 months of the year, wrote the Greece newspaper "Ekatemarini". The media quoted the words of the Greece financial miniter Georgios Alogoskoufis, according to who, is expected the data for May to showmore positive tendention. The growing of the export of the South European country was the best prove for Greece economy expansion for the last years. This also confirmed Greece as a coutry, which can make profits from trading with the neighbour countries.
The incomes from exports of the country hbad increased to 9.6% from Gross Domestic Product in 2007. In 2004 the same data was 8.4% from the Gross Domestic Product. After the period of strong development of export last years, the export dropped with 4.6% in the first 5 months of 2008 in comparison with the last year. The calculations are showing, that in May there is growing of 21%, but dificulties are visible, told the Greece financial minister. The government revised the expectings for growing of economy this year from 4% to 3.6%. The government sources are claiming, that most probably will there is new revision of the parameters in the Autumn.
Georgios Alogoskoufis put the all faults the employees of the harbours Salonika and Pireaus, which were in strike.

Labels: Financial News

posted by Zoritza Petrova @ 4:23 AM