Greece needs to reduce the proportion of its budget spent on unaffordably high pensions which are paid for by high tax rates to stimulate economic growth, the International Monetary Fund said on Tuesday.
Releasing the full staff report from its first annual review of Greece’s economic policies in nearly four years, the IMF said that Greece instead should work to broaden its tax base and reduce tax rates, while providing more targeted spending to support the poor and other essential public services.
We are saying that Greece needs to take some fairly difficult decisions to make its budget much more growth-friendly, IMF European Department Director Poul Thomsen told reporters on a conference call.
He said that too m…
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