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Greek CEOs very optimistic over economic developments

The ACEO-ICAP general economic climate index rose to 186 points in the third quarter of 2019 from 171 points in the previous quarter, reflecting the continuation and strengthening of a positive climate that has prevailed after the general elections in July and expectations of a significant improvement of the business environment in the country.

The ACEO-ICAP general economic climate index rose to 186 points in the third quarter of 2019 from 171 points in the previous quarter, reflecting the continuation and strengthening of a positive climate that has prevailed after the general elections in July and expectations of a significant improvement of the business environment in the country.

The survey, conducted using a sample of 3,020 CEOs/general managers from the largest Greek enterprises by the Association of Chief Executive Officers (ACEO) in cooperation with ICAP in the period September 16-30, showed that CEOs positively assessed the intentions of the new government and believed these will lead the economy to a stable growth course. All categories of enterprises showed an improvement, with the current status index rising to 173 points in Q3 from 151 in Q2, while the expectation index rose to 198 points from 190 points, respectively.

The country's current economic status index jumped to 264 points in the third quarter, from 208 in the previous quarter, with the percentage of CEOs saying that the country's current economic status has improved rising to 73 pct. A 90 pct of CEOs in very large enterprises said economic conditions in the country were better than a year ago, while the percentage of CEOs expecting economic conditions to improve next year rose to 86 pct (the percentage of CEOs in very large enterprises was 93 pct).

Fifty-three pct of CEOs agreed that investor confidence in the country has significantly improved (the percentage of CEOs in large enterprises was 43 pct), while 45 pct of CEOs think that investor confidence in the country has improved slightly and only 2.0 pct of CEOs said there is no improvement at all.

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