The federal government is speaking of a 62% improve within the three years 2021-23, however glossing over OECD figures which present a dramatic 36% drop final 12 months in comparison with 2022
When you may have in your “hump” the distortion of actuality in regards to the accident in Tempe, it appears humorous to cope with the distorting lens on the financial improvement of the nation. However sadly it isn’t humorous. Allow us to not overlook that that is administration similar to what the Simitis and Karamanlis governments did within the 2000s, which led to the financial destruction of society in the course of the memo period. At the moment, the ministers of those governments spoke of “sturdy Greece”, “armored financial system”, and so on., brandishing the “Greek statistics” of the then Nationwide Statistical Service (after its unhappy achievements it has been renamed the Greek Statistical Authority). At the moment, the Greek media have been merely triumphant, regurgitating the airs of ministers, such because the finance minister of the primary authorities, Karamanlis, who in 2004 revised the nation’s GDP by together with investigations into the black financial system in commerce, transport, resorts, development, and even prostitution. We have been all residing in borrowed digital actuality heaven.
They distort the picture
Since 2019, the ministers of the Mitsotakis governments and the prime minister himself have damaged each file of immorality. Their newest unhappy stoppage is overseas direct funding (FDI). Based on the OECD report, in Greece they decreased by 36% final 12 months in comparison with 2022. In truth, they have been even lower than the “lame” as a result of 2021 pandemic.
What if the information from the OECD report is accessible to everybody? Kyriakos Mitsotakis and Kostis Hatzidakis imagine that in Greece the bulk are voters with helmets. One other model of the “Greek statistics” was constructed with a notice circulated within the systemic media. The title is similar to nearly all the systemic media that need to seem as “critical” because of this and take critically what the “critical Ok. Hatzidakis” is “making”: “OECD: Overseas direct funding explosion of 62% within the final three years in Greece” .
With no hint of journalistic cross-talk, they misinformed us that FDI within the three years 2021-23 marked a rise of 62% in comparison with the three years 2017-19, as a result of necessary, as they declare, development charges, which have been continually growing. The “cooks” excepted the tough 2020 as a result of pandemic. As famous in the identical textual content quoted by all of the systemic media: “From 4.15 billion {dollars} that amounted on common within the three years 2017-2019, they reached 6.7 billion {dollars} in three years 2021-2023”. Certainly, in absolute numbers there is a rise of 6.91%, however there’s something foul in regards to the absolute numbers. It was with such humorous “wise” comparisons that the saying “numbers are one of the best ways to lie believably” was derived.
We took the “festive” model of Mitsotakis and Hatzidakis that the systemic media supplied to their public and lowered it to the three years 2017-19 that Alexis Tsipras dominated in the course of the third memorandum, in comparison with the earlier three years 2014-16. Because it seems, the Tsipras authorities throughout that interval achieved a “miracle”: it managed to extend FDI by 51% in comparison with 2014-16.
Specifically, from the official figures of the Financial institution of Greece it seems that FDI amounted to:
- In 2017 to three.085 billion euros
- In 2018 to three.364 billion euros
- In 2019 to 4.484 billion euros.
Subsequently, if we add the figures, we now have the whole quantity of 10.933 billion euros, when within the three years 2014-16 a complete of 5.663 billion euros have been recorded, which suggests, at all times based on the celebratory logic of Mitsotakis and Hatzidakis who proudly adopted the systemic media, {that a} comparable monetary miracle of 52% was achieved. After all, to ensure that the Mitsotakis miracle to occur, it ought to be identified that the acquisition of the loans of the “purple” debtors towards a lentil board by the darkish Irish funds and certainly with a subsidy from the state by state ensures of a complete contributed to the 2021-23 funding “explosion” amounting to 18 billion euros (“Hercules” I and II).
Seriousness is sought
So let’s get critical with the Mitsotakis and Hatzidakis who promote seaweed for silk ribbons and state this: what’s taken under consideration in such indicators as the rise or lower of overseas funding in an financial system is the annual variation in relation to the remainder of the nations. Based on the OECD, in comparison with 2022, the discount of FDI in our nation was recorded at 36%.
After all, if we delve into the qualitative information as properly, we are going to discover that 45% issues the non-productive funding in actual property, whereas the productive aspect that offers rise to apparent issues to critical economists and to not the serious-minded Mitsotakis and Hatzidakis is the autumn in investments in “info know-how” tools and communication” by 12.1% in 2023 in comparison with 2022.
The black gap of 2020
As can simply be seen from the related “information” of the alleged explosion, 2020 was excluded as a result of then FDI had decreased as a result of coronavirus pandemic. But when one compares the lower in FDI in 2020 in comparison with 2019 (62.7%, from 4.484 billion euros to 2.813 billion) with the lower in 2022 in comparison with 2023 (66.9%, from 7, 5 billion euros to five.022 billion), will discover that the “Mitsotakis scandal” within the Greek financial system is bigger than the worldwide disaster led to by the pandemic.
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