Greek retail commerce on the mend from crisis: report

Source: Xinhua| 2019-02-23 03:56:53|Editor: Mu Xuequan
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ATHENS, Feb. 22 (Xinhua) -- Greek retail commerce is on the path of recovery from the prolonged debt crisis in the country, contributing about 11 percent in the Greek GDP, according to a report presented on Friday.

For a second consecutive year, retail commerce enterprises posted on average 7.9 percent increase of sales and 8.5 percent increase of turnover, according to the e-mailed annual survey conducted by the Hellenic Confederation of Commerce and Entrepreneurship (ESEE).

The sector employs about 18 percent of Greece's working force and during 2018 further 6,200 new job positions were created.

On the other side, the mark of the debt crisis which started in late 2009 is still evident. After many years of deep recession, austerity, capital controls and limited bank loans provided to businesses, the 27 percent of enterprises have debts to the tax office and pension funds.

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