Capital controls expected to be lifted at end of first half of 2016

26 October 2015
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The capital controls imposedon banking transactions in Greece last June are expected to be lifted at the end of the first half of 2016, Alternate Finance Minister Giorgos Chouliarakis told the parliament’s Economics committee which is discussing the 2016 draft budget, during his second address.

Commenting on the budget’s numbers, he said the Greek economy is expected to return to fast growth soon, while it is expected to grow at a rate of 2.8 pct to 3.1 pct from 2017 and until 2019. He also predicted that achieving the budgetary targets by 2018 will allow for milder fiscal adjustment measures.

Responding to criticism from the opposition, Chouliarakis said the 2015 recession is the result of an impressive drop in private investment, mainly due to the credit asphyxiation created by the country’s lenders to force the government to sign an agreement.

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