Moscovici predicts Greek economy to recover in second half of 2016

12 August 2016
126 Views

The European Commissioner for Economic and Financial Affairs, Taxation and Customs Pierre Moscovici argued that the Greek economy will begin to recover in the second half of 2016 and will continue to improve in 2017 and 2018.

According to the European Commissioner, the figures indicate that the Greek economy has proven to be far more resilient that the August 2015 estimates suggested.

Asked by SYRIZA MEP Dimitris Papadimoulis on the capital controls, Mr. Moscovici noted that trust is being restored and improved, following the first ESM program review. Further improvement will facilitate in lifting the capital controls and supporting investments, he added.

The successful completion of the first bailout program review resulted in an agreement for the disbursement of 10.3 billion euros in aid, of which 7.5 billion euros have already been paid out. This, Mr. Moscovici commented, will improve liquidity by addressing government arrears.

You may be interested

Nafplio: The wonderful first capital of Greece
GREECE
shares70 views
GREECE
shares70 views

Nafplio: The wonderful first capital of Greece

Panos - Oct 19, 2017

One of the most beautiful towns in the area of Argolis (in eastern Peloponnese) as well as one of the…

Tsipras at Brookings Institute: “Now is the time to trust Greece”
GREECE
shares59 views
GREECE
shares59 views

Tsipras at Brookings Institute: “Now is the time to trust Greece”

Panos - Oct 19, 2017

Now is the time to trust Greece as its economy is turning a corner and exiting the crisis, Prime Minister…

Merchant Marine Minister Declares Athens Coastline Almost Oil Free
GREECE
shares49 views
GREECE
shares49 views

Merchant Marine Minister Declares Athens Coastline Almost Oil Free

Panos - Oct 19, 2017

The Greek government said that the cleanup of a section of Athens coastline polluted by a large oil slick more…

Leave a Comment

Your email address will not be published.