Commission also set to lower Greek GDP growth forecast for 2017
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
Turkish deputy-Prime Minister accuses Greece of oppressing religious minorities in latest Turkish tirade against Greecemakis - Nov 17, 2017
Turkish Deputy Prime Minister Bekir Bozdag accused Greece of imprisoning Muslim Imams, despite the country being a member of the…
Greek PM says country would rely on itself to face flood disastermakis - Nov 17, 2017
Greek PM Alexis Tsipras thanked European countries for offering to help after the flash floods in western Attica, Wednesday, which…
US meteorologist explains deadly storm that flooded Greek townsmakis - Nov 17, 2017
“When the Atlantic hurricane season begins to quiet down in late October and November, it’s time to cast an eye…