IMF representative Delia Velculescu speaking at an investment conference in New York said that additional reforms on social security and pension system are required in order to achieve a primary surplus.

According to Bloomberg, Mrs. Velculescu argued that the initiatives taken so far on debt issue were not enough to restore its sustainability adding that the weak fiscal position of Greece is a challenge for economic policy.

She also argued that the focus should be on reforms that improve the competition level by facilitating the entry of new businesses to markets.