Commission also set to lower Greek GDP growth forecast for 2017

20 April 2017
126 Views

A “milder growth” rate for Greece in 2017 was the way a European Commission spokeswoman put it on Wednesday in revealing that the EU’s executive is also revising, downwards, estimates for the bailout-dependent country’s economy this year.

Spokeswoman Anika Breidhardt said recent figures pointed a slower growth rate for 2017 than initially anticipated by the Commission in February. She cited uncertainty of the fate of the second review of the Greek program “up until recently”.

An agreement, in principle, was achieved on the margins of an April 7 Eurogroup meeting in Malta between the increasingly embattled leftist-rightist Greek government coalition and the country’s institutional creditors.

Breidhardt also referred to the “fragile state” of the Greek economy and the need to conclude the review – now more than a year in delay – as soon as possible. As such, she welcomed the April 7 agreement, which remains to be translated into a staff-level agreement for presentation to Euro area finance ministers for their approval.

You may be interested

The full IMF programme for Greece
FINANCE
shares37 views
FINANCE
shares37 views

The full IMF programme for Greece

makis - Jul 21, 2017

The IMF published its new programme on Greece on Thursday, which was approved on principle by the organisation’s board of…

President Pavlopoulos extends support to Kos Mayor
POLITICS
shares44 views
POLITICS
shares44 views

President Pavlopoulos extends support to Kos Mayor

makis - Jul 21, 2017

The President of the Hellenic Republic, Prokopis Pavlopoulos expressed his deepest sorrow for the victims of the Kos earthquake in…

Kos earthquake: Turkish victim identified as Sinan Kurtoglu
GREECE
shares69 views
GREECE
shares69 views

Kos earthquake: Turkish victim identified as Sinan Kurtoglu

makis - Jul 21, 2017

The name of the Turkish national killed in the earthquake on the island of Kos is Sinan Kurtoglu. According to…

Leave a Comment

Your email address will not be published.