Athens News Agency: News in English, 00-12-18

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From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

[01] Stability and Development Plan-Unveiled

[01] Stability and Development Plan-Unveiled

Real incomes in Greece will rise by 2.5-3.0 percent, in tandem with the annual growth in productivity, while the average growth rate for the Greek economy is estimated at 5.3 percent for the next few years, according to the the country's first Stability and Development Plan submitted to the European Union, which was unveiled on Monday.

The Plan, which was submitted Monday simultaneously to the EU's Council of Economy and Finance (ECOFIN) ministers and the European Commission, was presented in Athens by Greece's national economy and finance minister Yannos Papantoniou at a press conference.

This is Greece's first-ever Stability and Development Plan to be submitted to the European Union, which is required following the country's acceptance as the 13th member of the EU's euro zone as of January 1, 2001 in accordance with decisions on the Union's Stability and Development Pact taken at the June 1997 EU summit in Amsterdam.

Prior to euro zone acceptance, Greece had been submitting Convergence Programmes to the EU on the Greek economy's convergence with the other EU member states.

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