The Economy of Greece

Greece has a capitalist economy with the public sector accounting for about 40% of GDP. Major contributors to the economy are tourism and shipping, with the former contributing 15% of GDP. Immigrants make up nearly one-fifth of the work force, mainly in agricultural and unskilled jobs.

The Greek economy grew by nearly 4.0% per year between 2003 and 2006, due partly to infrastructural spending related to the 2004 Athens Olympic Games, and in part to an increased availability of credit, which has sustained record levels of consumer spending.

Public debt, inflation, and unemployment are above the euro-zone average, but are falling. The Greek Government continues to grapple with cutting government spending, reducing the size of the public sector, and reforming the labor and pension systems, in the face of often vocal opposition from the country's powerful labor unions and the public.

The currency of Greece is the Euro.