Its announced intention is to continue the austerity program, joining EMU January 1, 2001. The results of the austerity program on the economy have been positive. Inflation continues its downward trend. A chronic current account deficit highlights continuing structural economic problems. The government is trying to address these weaknesses by cutting back the public sector through a program of privatization.
Services represent the largest and fastest growing sector of the Greek economy.
Trade, banking, transportation, communications, health, education, and tourism are the largest service sub-sectors. In manufacturing, the food industry is expanding fast to support new markets in neighboring countries. Other important sectors include footwear and building materials. Greece is a surplus producer of vegetables and fruits. Its largest export items include fresh and processed fruits and vegetables, especially canned peaches and tomato products, olive oil, durum wheat, and tobacco.