Fall of the Economic Climate Index for the first quarter of 2016

A fall of the economic climate index among CEOs was recorded in the first quarter of 2016, reflecting uncertainty on the course of the evaluation of the reform program and the CEOs’ concern of the economic impact of the proposed measures to increase the tax burden.
Nine out of ten CEOs agree that the high taxation rates of salaried employees are a disincentive for both the retention and the return from abroad of remarkable and successful executives. Moreover, the vast majority of CEOs believe that the intense immigration problem that our country is facing recently will have a negative impact on tourism and the Greek economy.

The general economic indicator (ACEO / ICAP-CEO General Index) stood at 114units in Q1 2016, as recorded by the quarterly research conducted on a sample of3,020 CEOs / General Managers of the largest Greek enterprises by the Association of Chief Executive Officers (ACEO) in collaboration with ICAP Group. The survey was conducted from 03/18/2016 to 05/04/2016.