According to the professor and deputy vice president of the Hellenic Business and Retail Association (SELPE), a number of key economic parameters determine whether there is a risk of budget deviation. Antonis Zairis. Economist speaks “K” on the occasion of the recent publication of a book called The Great Transformation. Journey into the Unknown, which he co-wrote with business development consultant George Stamatis.

What key indicators of the economy should be emphasized, according to Professor and Deputy Vice President of SELPE Antonis Zairis.

As he notes, five key indicators of the economy require special attention. First, the primary deficit, which reached 5% of GDP in 2021 compared to the European Union average of 3.3% in 2022 and is expected to fall to 2%. “How will a primary surplus of 1% of €2 billion be achieved in 2023, given that expanded fiscal reserves, including those announced at TIF, are close to around €13 billion and correspond to 6-7% of GDP?” he wonders. Secondly, the public debt, which in the first quarter of 2022 was 189.3% of GDP, is 357.6 billion euros instead of 344 billion euros in the corresponding quarter of 2021, while not full term in the EU. is 88%. Thirdly, unemployment, which decreased from 28% in 2013 to 12% in June 2022, and the EU average is 6%. Fourth, “a particularly low employment rate of 62% in the 20-64 age group, compared to 73% in the European Union.” And fifth, he adds, the current account balance for January-June 2022 increased by 3.5 billion euros to 10.8 billion euros compared to 2021, the change is due to the fact that imports increased more (+49.1%) than exports (+49.1%). 39.8%.

Commenting on his new work, Mr. Zaires emphasizes that it addresses all the major issues that concern modern society. The usefulness of the humanities and their balancing role in the fourth industrial revolution, the threat to the environmental ecosystem, new forms of inequality, the critical question of identity, violence, reform strategies, scientific and parascientific populism and the catalytic role of leadership in crisis management and the construction of a new humanitarian culture. The pandemic, says Mr Zaires, has been a major source of problems “that we haven’t paid much attention to but are now the dominant priority in our lives.” These, he adds, include streamlining the operation of the national health system and restructuring foreign policy with strong alliances and partnerships, and in terms of better training in terms of military capability. In addition, the health crisis “highlighted deep reflective reflections on education at all three levels of education, restructuring public administration in terms of efficiency and elimination of suspicion and phobia of responsibility, intervention in labor market arrhythmias and the gradual introduction of a capitalization system, demanding reforms in the economy and cultivating environmental awareness,” concludes Mr. Zairis.