(2) On 9 July 2019 and on 20 July 2020, the Council addressed recommendations to Greece in the context of the European Semester. Longer-standing aspects with an impact on medium-term economic performance include in particular the high level of long-term unemployment, low productivity growth due to a concentration of economic activity in traditional and low-innovation sectors moreover, high regulatory burdens, red tape and a slow and inefficient justice system hamper private investments. According to the Commission’s 2021 Spring forecast, the real GDP of Greece declined by 8,2 % in 2020 and is expected to decline by 4,5 % cumulatively in 20. (1) The COVID-19 outbreak has had a disruptive impact on the economy of Greece In 2019, the gross domestic product per capita in current prices (GDP per capita) of Greece was 55 % of the EU average. ![]() Having regard to the proposal from the European Commission, Having regard to Regulation (EU) 2021/241 of the European Parliament and of the Council of 12 February 2021 establishing the Recovery and Resilience Facility 1 and in particular Article 20 thereof, Having regard to the Treaty on the Functioning of the European Union, On the approval of the assessment of the recovery and resilience plan for Greece
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