Brussels, 24/07/2014 (Agence Europe) - The 7th European Commission task force report on Greece, published on 23 July, paints a rather positive picture with regard to implementation of the structural reforms undertaken to obtain financial assistance.
Greece has pulled itself up into 5th place among member states in terms of absorption of EU structural and cohesion funds, compared to 18th place at the end of 2011. The latest figures show the country has now made use of 81.3% of the funding available in 2007-2013, well above the EU average of 69.17%.
The task force again highlights Greece's unemployment rate remains very high at 26.8%, with youth unemployment standing at 57.7%. It also indicates that the EU's youth guarantee will be progressively introduced for all 15-24 year olds in the form of a job, apprenticeship, traineeship or continued education for 4 months after leaving education or leaving employment. €350 million of funding from the EU youth employment initiative and the European social fund will support young people who are not in employment, education or training (NEETs) covering around 240,000 people.
“Significant steps” were taken to launch the Institution for Growth (IfG). This investment fund aims to help pool financial resources from private and public organisations to provide financing to SMEs and was set up with €200 million coming from Greece and the German KfW bank. The report underlines the fact that progress has been made in the business environment, particularly in trade, by reducing waiting times and inherent costs for exports. (EL)