Publications & Documents

The COVID-19 crisis has had a profound impact on SME access to finance. In particular, the sudden drop in revenues created acute liquidity shortages, threatening the survival of many viable businesses. The report documents an increase in demand for bank lending in the first half of 2020, and a steady supply of credit thanks to government interventions. On the other hand, other sources of finance declined, in particular early-stage equity. This paper, a special edition of Financing SMEs and Entrepreneurs, focuses on the impacts of COVID-19 on SME access to finance, along with government policy responses. It reveals that the pre-crisis financing environment was broadly favourable for SMEs and entrepreneurs, who benefited from low interest rates, loose credit standards and an increasingly diverse offer of financing instruments. It documents the unprecedented scope and scale of the policy responses undertaken by governments world-wide, and details their key characteristics, and outlines the principal issues and policy challenges for the next phases of the pandemic, such as the over-indebtedness of SMEs and the need to continue to foster a diverse range of financing instruments for SMEs.

Greece’s labour market entered the COVID-19 shock following several years of sustained employment growth and with wages picking up. Unemployment remained high and employment rates were low, especially among women, the young and older workers. The shock led to a sharp fall in labour force activity and has stalled new hiring. The improved social protection and temporary support measures have helped to support households’ incomes and protect jobs during the COVID-19 crisis. However, high tax and social security contribution rates, together with little in-work support for the low-paid, continue abetting high structural informality. This heightens insecurity – by excluding many workers from activation policies or social and employment protection – and weakens productivity. Boosting the capacity of employment services and activation policies would support the recovery from the COVID-19 shock, in addition to durably improving employment prospects especially of long-term unemployed. Giving workplaces further flexibility to adapt collective agreements to specific circumstances would help align wage growth with productivity developments and help businesses to weather the COVID-19 shock. Building on the population’s solid education levels by equipping workers with the skills needed by the labour market can support employment and incomes. This will require a substantial boost to professional education and training at all levels and ages. This chapter applies the 2018 OECD Jobs Strategy to Greece to identify reforms that can help to overcome the COVID-19 crisis and create a virtuous cycle between productivity, job creation, and well-being.

Greece has undergone extensive reforms to cope with a deep recession over the past decade. It has made progress in decoupling air pollutant emissions from GDP and improving the conservation status of natural habitats. However, the country faces challenges in managing waste and water, and addressing air pollution. It is highly vulnerable to the impact of climate change. The energy mix has shifted towards cleaner fuels, but the economy strongly relies on fossil fuels. Progress towards sustainable development requires effective implementation of ambitious climate mitigation and adaptation policies, strengthening environmental governance and enhancing coherence between environmental and energy, transport, agriculture and tourism policies. This is the third Environmental Performance Review of Greece. It evaluates progress towards sustainable development and green growth, with special features on climate change mitigation and adaptation, and biodiversity conservation and sustainable use.

The Territorial Review of Greece offers analysis and policy guidance to strengthen regional development and well-being. It examines Greece’s regional development framework, the EU Cohesion policy and multilevel governance in Greece. Since the global financial crisis, Greece has undertaken an impressive number of structural reforms. Recovery initiated in 2017 but the current COVID-19 pandemic is slowing down Greece’s efforts. The country is now facing a number of strategic development priorities including fostering digitalisation, improving entrepreneurial and business ecosystems, and addressing environmental challenges. These new priorities must also tackle existing social challenges and mitigate rising inequalities. The Review examines a range of policies that have the potential to propel inclusive growth in Greece’s regions and improve the quality of life for their residents. It stresses that policies for economic growth, social capital and environmental sustainability are more effective when they recognise the different economic and social realities where people live and work. OECD work illustrates the importance to align place based regional development strategies with sectoral policies (support for private investment, infrastructure and human capital policies) in each place to generate multiplier effects. To fulfil this task, Greece will need to continue advancing the reform of its institutional and fiscal multi-level governance system.

This report contains the 2020 Peer Review Report on the Exchange of Information on Request of Greece.

This paper presents and discusses the general findings and key policy messages of the 2019 OECD Open, Useful and Re-usable data (OURdata) Index, and provides a detailed analysis of the results for each pillar and sub-pillar. Additionally, it assesses the main advancements and challenges related to the design and implementation of open government data (OGD) policies in OECD member and partner countries by comparing the results for 2019 with those of the 2017 edition. This policy paper contributes to the OECD work on the digital transformation of the public sector, including digital government and data-driven public sector and open government data.

This profile provides a concise and policy-relevant overview of health and the health system in Greece as part of the broader series of the State of Health in the EU country profiles. It provides a short synthesis of: the health status in the country; the determinants of health, focussing on behavioural risk factors; the organisation of the health system; and the effectiveness, accessibility and resilience of the health system. This profile is the joint work of the OECD and the European Observatory on Health Systems and Policies, in co-operation with the European Commission.