Greek economy to return to positive growth rates in 2016, Piraeus Bank chairman says

12 January 2016
201 Views

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

Regling: “We are ready to ease the Greek debt”
FINANCE
shares31 views
FINANCE
shares31 views

Regling: “We are ready to ease the Greek debt”

makis - Feb 23, 2018

Technical work has begun to determine whether Greece will need a debt relief after an expected exit from the rescue…

Turkey threatens violence against Italian drill ship anew in Cyprus!
GREECE
shares44 views
GREECE
shares44 views

Turkey threatens violence against Italian drill ship anew in Cyprus!

makis - Feb 23, 2018

Turkey continued its belligerent stance off the coast of Cyprus on Friday, as it openly threatened violence against the Italian…

Greek PM Tsipras met with German Chancellor Merkel on EU Summit sidelines
POLITICS
shares39 views
POLITICS
shares39 views

Greek PM Tsipras met with German Chancellor Merkel on EU Summit sidelines

makis - Feb 23, 2018

Greek PM Alexis Tsipras met with German Chancellor Angela Merkel on the sidelines of the Brussels EU Summit, Thursday. According…

Leave a Comment

Your email address will not be published.