OECD Territorial Reviews Regional Policy for Greece Post-2020

Book excerpt: The Territorial Review of Greece offers analysis and policy guidance to strengthen regional development and well-being. It examines Greece's regional development framework, the EU Cohesion policy and multilevel governance in Greece. Since the global financial crisis, Greece has undertaken an impressive number of structural reforms. Recovery initiated in 2017 but the current COVID-19 pandemic is slowing down Greece's efforts. The country is now facing a number of strategic development priorities including fostering digitalisation, improving entrepreneurial and business ecosystems, and addressing environmental challenges. These new priorities must also tackle existing social challenges and mitigate rising inequalities. The Review examines a range of policies that have the potential to propel inclusive growth in Greece's regions and improve the quality of life for their residents. It stresses that policies for economic growth, social capital and environmental sustainability are more effective when they recognise the different economic and social realities where people live and work. OECD work illustrates the importance to align place based regional development strategies with sectoral policies (support for private investment, infrastructure and human capital policies) in each place to generate multiplier effects. To fulfil this task, Greece will need to continue advancing the reform of its institutional and fiscal multi-level governance system.