Greek economy to return to growth in 2017, Commission report

5 November 2015
64 Views

“Heightened uncertainty and the introduction of capital controls” are leading the Greek economy back to recession of 1.4 pct in 2015 and 1.3 pct in 2016, the European Commission said in its autumn forecasts for the Greek economy. The European Commission expects the Greek economy to return to positive growth rates (2.7 pct) in 2017.

The unemployment rate is projected to rise to 25.8 pct in 2016, from 25.7 pct this year and to fall to 24.4 pct of the workforce in 2017. Greece’s fiscal deficit is expected to rise to -4.6 pct of GDP this year (from -3.6 pct in 2014) falling again to -3.6 pct in 2016 and -2.2 pct in 2017. The country’s public debt, however, is projected to rise to 194.8 pct of GDP this year, rising to 199.7 pct in 2016 and falling to 195.6 pct in 2017. The country will remain in a deflation rate this year (-1.0 pct), returning to positive rates (1.0 pct) in 2016 and 0.9 pct in 2017. Investments are projected to shrink further (-10.2 pct this year, -2.0 pct in 2016) before rising again in 2017 (14.7 pct).

You may be interested

Breaking news: 4.9 magnitude earthquake strikes near Santorini
GREECE
shares86 views
GREECE
shares86 views

Breaking news: 4.9 magnitude earthquake strikes near Santorini

makis - Aug 16, 2017

A 4.9 magnitude earthquake has hit the area between the islands of Milos, Amorgos and Santorini. The tremor occurred at…

Greek Ministry of Foreign Affairs announcement on the participation of FYROM’s Consul General in Toronto in an irredentist event
POLITICS
shares77 views
POLITICS
shares77 views

Greek Ministry of Foreign Affairs announcement on the participation of FYROM’s Consul General in Toronto in an irredentist event

makis - Aug 16, 2017

The Greek Ministry of Foreign Affairs issued the following Press Release. We condemn the participation of fYROM’s Consul General in…

Pavlopoulos: We are grateful to those that are giving a huge battle to protect the people & the environment
POLITICS
shares101 views
POLITICS
shares101 views

Pavlopoulos: We are grateful to those that are giving a huge battle to protect the people & the environment

makis - Aug 16, 2017

“The Greeks honour today the great feast of the Dormition of Virgin Mary, that always protects the Greek people’s struggles…

Leave a Comment

Your email address will not be published.