Athens News Agency: News in English, 08-07-23

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From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

[01] Investment spending to slow

[01] Investment spending to slow

Private enterprises' investments fell by 14.1 percent in 2007, while investments made by public enterprises grew by 6.5 percent. With the exception of two sectors -textiles and clothing- all other sectors reported lower investment spending. The textiles and clothing sectors recorded increases of 31 percent and 19 percent, respectively, while the non-metal minerals (-31 pct), chemicals (-13 pct) and Food/Beverage (-10.4 pct) recorded the biggest percentage declines in 2007.

IOBE said estimates over investment trends in the EU and the Eurozone were positive for 2007 (up 8.2 pct and 8.6 pct, respectively).

The report said Greek enterprises cut the estimates over this year's investment spending to a 7.7 pct growth rate from a 15 pct growth estimate made in the previous report. In contrast with 2007, private enterprises were expected to raise their investment spending by 10.1 pct in 2008, while public sector enterprises were expected to cut their investment spending by 29.2 pct.

The non-metal mineral sector is expected to raise its investment spending by 69.4 pct in 2008, followed by the Food/Beverage sector (21.3 pct), while the chemicals, textile and clothing sectors are expected to cut their investments by 26.4 pct, 21.3 pct and 9.0 pct, respectively, this year.

Greek enterprises' investment priorities in 2006 were environmental protection and safety operations, while investment priorities this year focus on production capacity for new products and production method improvement.

Caption: EPA/ANA-MPA file photograph of steel mill in operation.

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