Flag description:
nine equal horizontal stripes of blue alternating with white; there
is a blue square in the upper hoist-side corner bearing a white
cross; the cross symbolizes Greek Orthodoxy, the established
religion of the country
Economy Greece
Economy - overview:
Greece has a capitalist economy with the public sector accounting
for about 40% of GDP and with per capita GDP at least 75% of the
leading euro-zone economies. Tourism provides 15% of GDP. Immigrants
make up nearly one-fifth of the work force, mainly in menial jobs.
Greece is a major beneficiary of EU aid, equal to about 3.3% of
annual GDP. The Greek economy grew by nearly 4.0% per year between
2003 and 2006, largely because of an investment boom and
infrastructure upgrades for the 2004 Athens Olympic Games. Greece
has not met the EU's Growth and Stability Pact budget deficit
criteria of 3% of GDP since 2000. Public debt, inflation, and
unemployment are above the euro-zone average. To overcome these
challenges, the Greek Government is expected to continue cutting
government spending, reducing the size of the public sector, and
reforming the labor and pension systems, despite vocal opposition
from the country's powerful labor unions and the general public.
GDP (purchasing power parity):
$251.7 billion (2006 est.)
GDP (official exchange rate):
$222.5 billion (2006 est.)
GDP - real growth rate:
3.6% (2006 est.)
GDP - per capita (PPP):
$23,500 (2006 est.)
GDP - composition by sector: agriculture: 5.1% industry: 20.6% services: 74.4% (2006 est.)
Labor force: 4.88 million (2006 est.)
Labor force - by occupation: agriculture: 12% industry: 20% services: 68% (2004 est.)