There is no doubt that 2013 will be a difficult year, mainly due to the continuing recession and high unemployment. But we can expect recessionary forces to weaken gradually and the Greek economy to return to positive growth rates in the course of 2014.
Positive effects are expected from: •  a boost to liquidity and confidence as a result of the recapitalisation of banks and the return of deposits to the banking system;  •  a further improvement in cost competitiveness – expected in 2013 to more than offset the competitiveness losses of 2001–2009 – and a resulting increase in exports;  •  a speeding-up of the privatisation process, leading eventually to investments several times larger than the initial ones;  •  progress in the deregulation of markets;  •  the restarting of major infrastructure projects such as highways;  •  the implementation of private investment projects, with the support of the National Strategic Reference Framework (NSRF) and European Investment Bank funds;  •  the planned repayment of public sector arrears.