Parliament’s State Budget Office released a report on Tuesday warning that a failure to implement the third memorandum could jeopardize the country’s economic growth.

The report highlighted the dangers and the reasons for optimism regarding the Greek economy’s exit from the crisis in the following months.

As for the crucial issue of social security reform, the Parliament’s Budget Office noted that the government’s proposals are “a politically painful (for itself and the opposition) step for correcting the system.”

Among the reasons for optimism, the report cited the large majority of MPs that voted for the 3rd memorandum, calling it a “major political event” warning, however, that only economic growth could ensure a minimal continuation of this process and avoid future dangers.

Calling the shift in the direction of economic policy “courageous,” the authors of the report added that the final result will depend on the stance adopted by the opposition and that the risk of the program failing “politically” should not be underestimated.

The report also states that Greece must reach agreement with the institutions on many tough reforms by March-April this year, including achieving the fiscal targets for 2016, reforming the pension system, taxation measures, the Medium-Term Fiscal Strategy 2017-2020, modernising public administration, banking sector reforms and electricity market reforms.

It noted that no fiscal gap requiring additional measures appears to have been created through the execution of the 2015 budget.