OECD's annual economic report on Greece. Part I analyzes the major features and causes behind the disappointing trends in the manufacturing sector and the unsatisfactory export performance. Part II discusses structural reforms that have been put in place in recent years, and the measures designed to lift bottlenecks, which have contributed to strong stagflation throughout the 80s. Macroeconomic policies in 1992 and 1993 and budget outcomes are examined in Part III. Developments in the real economy, in inflation and balance of payments in 1992, and OECD projections for 1993 and 1994 are presented in Part IV.

Introduction 
I. Inadequate industrial adjustment and weak competitiveness
-Overview
-The institutional and policy background
-The deteriorating competitiveness of industry
-The dualism in Greek industry
II. Broadly-based structural adjustment policies in the 1990s
-Financial liberalisation
-Reducing labour market rigidities
-Deregulation in goods and services markets
-Public sector consolidation
III. Tightening of macroeconomic policies
-Fiscal policy
-Monetary policy
IV. Economic developments in 1992 and prospects in 1993
-Developments in 1992
-Short-term prospects
V. Conclusions
Notes and references
Annexes
-I. Supplementary statistics on the manufacturing and trade sectors
-II. Calendar of main economic events
Statistical annex