希腊：2026年第四条磋商-新闻稿；员工报告；希腊执行主任的发言

2026ARTICLE IV CONSULTATION—PRESS RELEASE;STAFF REPORT;AND STATEMENT BY THEEXECUTIVEDIRECTOR FORGREECE Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussionswith members, usually every year. In the context of the2026Article IV consultation withGreece, the following documents have been released and are included in thispackage: •APress Releasesummarizing the views of the Executive Board as expressed duringitsMay 20, 2026,consideration of the staff report that concluded the Article IVconsultation withGreece. •TheStaff Reportprepared by a staff team of the IMF forExecutive Board’sconsideration on May 20, 2026,following discussions that ended on March 24, 2026,with the officials of Greece on economic developments and policies. Basedoninformation available at the time of these discussions, the staff report was completedApril 30, 2026. •AnInformational Annexprepared by the IMFstaff. •AStatement by theAlternateExecutive DirectorforGreece. The documents listed below have been orwill be separately released. •Selected Issues TheIMF’s transparency policy allows for the deletion of market-sensitive information andpremature disclosure of the authorities’ policy intentions in published staff reports andother documents. Copies of this report are available to the public from International Monetary Fund•Publication ServicesPO Box 92780•Washington, D.C. 20090Telephone: (202) 623-7430•Fax: (202) 623-7201E-mail:publications@imf.org Web:http://www.imf.org International Monetary FundWashington, D.C. IMF Executive Board Concludes2026Article IV ConsultationwithGreece FOR IMMEDIATE RELEASE •Greecemetthe shock from the war in the Middle East with strengthened fiscalsustainability and financial stability. •The right macroeconomic and financial policy mix would help preserve macro-financialstability and foster balanced and sustainable growth in the medium term. •Ambitious structural reforms, along with completing the EU Single Market, would supportgrowth sustainably at a high level and reduce the persistent current account deficit. Washington, DC–May 27, 2026:TheExecutive Board of the International Monetary Fund(IMF) completed the Article IV Consultation forGreece.1The authorities have consented to thepublication of the Staff Report prepared for this consultation. The energy price shock from the Middle East war is a considerable headwind, but stronginvestment and structural reforms in the context of Next GenerationEU (NGEU)aresupporting growth. Recent reforms to reduce tax evasion have broadened the tax base andreduced informality, creatingsomespace to support households’ disposableincome whileensuring a rapidpublic debtreduction. The 2026 Financial Sector Assessment Program(FSAP)—the first since 2006—finds that systemic risks in the financial sector were low prior tothe war and remain manageable. GDP growth is projected to soften to 1.8 percent in 2026. While supported by higher publicinvestment andhousehold support measures, elevated energy prices and weaker externaldemand stemming from the war will weigh on private consumption and tourism. Over themedium term, growth is forecast to ease to 1½ percent against the backdrop ofthedecliningworking age population with low labor force participation and sluggish productivity growth. Risks are tilted downward, especially stemming from a protracted war, an escalation ofgeopolitical tensions, and trade fragmentation, while domestic risks include delays in theexecution of NGEU-funded projects.Upside risks to inflation arisefrom further rises incommodity prices, wage growth outpacing labor productivity, and higher costs associated withclimate shocks. Executive Board Assessment2 Executive Directors agreed with the thrust of the staff appraisal. They welcomed the Greekeconomy’s solid macroeconomic growth, restored fiscal credibility, and financial stability.While the energy price shock from the war in the Middle East poses a considerable headwindfor the Greek economy amid still elevated inflation, Directors acknowledged that stronginvestment and ongoing reforms in the context of the Next Generation EU (NGEU) aresupporting growth. They welcomed the continued improvement in public sector balancesheets, while noting that incomplete private sector balance sheet repair and remainingstructural impediments weigh on medium-term growth and external balances. Directors calledfor the right macroeconomic and financial policy mix and completing the structural reformagenda to lock in the hard-won stability, lift supply constraints, and secure balanced andsustainable growth. Directors commended the continued very strong fiscal performance underpinned by reforms toreduce tax evasion, which has supported a sustained reduction in public debt and providesroom for temporary measures to mitigate the impact of higher energy prices.They agreed thatmaintaining primary surpluses and making full use of available EU funds to sustain publicinvestment beyond NGEU will h