Vroutsis: Deceleration of unemployment from 2014

Speaking at an event of the National Confederation of Greek Commerce (ESEE) Labour Minister Yiannis Vroutsis sent a message of optimism for the development of the Greek economy figures.

Addressing the trade bodies, Vroutsis said Greece lifted the weight of the largest fiscal adjustment, possibly in the entire world, and managed to radiate a positive message for all of Europe.

He added that for the first time there will be a primary surplus, a positive current account balance and a deceleration of unemployment from 2014. "After many years Greece passes from recession to recovery, with the help of the Greek people. Greece crossed the ocean and it would be tragic to give up at the last meters."

Focusing on the achievements of his ministry, Vroutsis said that now the institutional framework of the labour market has become more functional and versatile. New regulations are promoting the effective organization of working time by reducing the bureaucratic burdens of businesses.

As regards to the non-wage costs, Vroutsis said the government is planning further reduction of employer contributions for an additional 3.9 units by 2016, in a fiscal neutral manner. In 2012, employers' contributions fell by 1.1 percentage point.

Lastly, he asked the employer organizations in Greece to trust the prospects of Greek economy, invest in human capital and proceed in new hires addressing labour with respect and legality.