Bank of Greece - Annual Report 2005

According to the Bank of Greece's Annual Report 2005, despite the slowdown in the GDP growth rate in 2005, the performance of the Greek economy in 2005 is considered satisfactory.

Given that growth was achieved against a backdrop of fiscal consolidation and a significant rise in international energy prices, which put a burden on household incomes and weighed unfavourably on business confidence. Factors that helped sustain a satisfactory level of GDP growth in 2005 include the favourable monetary

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