Greek economy to return to positive growth rates in 2016, Piraeus Bank chairman says
A timely completion of the first review of the Greek programme and a dynamic implementation of a privatization programme, combined with a new development law by the government will help the economy to respond positively later this year and to return to positive growth rates in the second half of 2016, Mihalis Sallas, chairman of Piraeus Bank said on Tuesday.
Speaking to reporters, the Greek banker said he was surprised by a series of announcements made by foreign analysts which were making an effort to create a recessionary environment for the Greek economy this year. “These estimates come in full contrast with our estimates and the climate we see from the business world and foreign investors. Similar, or even more extreme estimates had been made by the same experts in the recent past and were rebuffed. The Greek economy has still to resolve a lot of its structural problems, but I believe that a timely completion of the first review, a speedy implementation of a privatization programme and a new development law will help the economy to respond positively returning to positive growth rates in the second half. We will have a positive growth rate for the year. This economic recovery will be based on higher performance in tourism, a speedy implementation of a Public Works Programme, improved liquidity and boosting investments in infrastructure projects,” Sallas said.
You may be interested
Accidental experiment solves Century-old Chemistry problemPanos - Feb 24, 2021
Researchers in Uppsala, Sweden accidentally left a chemistry experiment running over a long weekend. When they returned to the lab,…
ABTA: Greece among the five most popular destinations for 2021Panos - Feb 24, 2021
Greece is among the top 5 most popular destinations for holidaymakers, according to booking trends by Travel Association ABTA. Travel Association…