ATHENS – Greece recorded a huge improvement in the business environment rankings of The Economist Intelligence Unit (EIU) among 82 countries worldwide. Greece rose 28 positions from its place in the previous four-year period of 2014-18 according to the renowned business and economics news magazine The Economist.

Greece is now ranked 34th internationally, with the Economist attributing this improvement to the “impact of a pro-business government led by the New Democracy party, now in its second term, that has undertaken reforms, cut taxes and boosted business confidence.”

As evidence that the Greek economy is moving in the right direction, Minister of National Economy and Finance Kostis Hatzidakis spotlighted the significant improvement in Greece’s standing in the Economists’ highly regarded index.

Specifically, as Mr. Hatzidakis points out in his statement: “Greece achieved the greatest improvement in the rating of the business environment index compiled by the Economist, according to the relevant research published today. This development is further evidence that our economy is moving in the right direction. The universe did not conspire in favor of the government so that the Economist, known for its credibility, would say that Greece has achieved this performance, following a series of other positive evaluations.” He added that the universe does thus respond, however, “to those who persist in spreading pessimism and undermining efforts. The government has never denied that reform action must continue on many different levels. This is indeed what we are doing. Continuous pessimism unfairly harms the Greek people, their efforts, and sacrifices.”

The Economist’s index measures the attractiveness of the business environment in 82 countries based on 91 variables distributed across 11 different categories: political environment, macroeconomic environment, business opportunities, policy towards free market and competition, policy towards foreign investment, external trade, taxes, financing, labor market, infrastructure, and technological readiness.

“All these are not just a success of the government. It is a great success for Greece!” concludes Hatzidakis’s statement.