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
Pakistani gang leader arrested by Greek policemakis - Nov 27, 2020
The Pakistani leader of a gang, whose knife-wielding members broke into an apartment in Kaminia last Saturday and slaughtered a…
These blood types have a lower risk of contracting Covid-19Panos - Nov 27, 2020
New research adds to the growing body of evidence that people with blood type ‘O’ may have a lower risk…
Former New York Times reporter blasts Amazon for censorship over Covid-19 masksPanos - Nov 27, 2020
Former New York Times reporter Alex Berenson has slammed Amazon for attempted ‘censorship’ after the company backed down from its…