The Bank of Greece estimates that after six consecutive years of recession Greece is ready to return to growth in 2014. The Bank Governor Giorgos Provopoulos will present his report to the President of Parliament Evangelos Meimarakis on Tuesday morning.

According to the report, it is imperative that the reforms and structural changes continue, although it is stressed that it is essential to expand the tax base and tackle tax evasion, to avoid having to increase taxes to support revenue.

In his report, Mr. Provopoulos highlights the indications that the recession is ending, which are illustrated in the improvement of a series of macroeconomic indexes.

Mr. Provopoulos has also recognized the “tidying up” in the banking sector, by reducing the system to four systemic banking groups. The Governor will urge the bank managements to focus on restructuring loan agreements in order to increase efficiency.