1.3% GDP growth for 3rd quarter: ELSTAT

4 December 2017
892 Views

The Hellenic Statistical Authority (ELSTAT) announced Monday morning that the growth rate for the 3rd quarter of 2017 would amount to 1.3%. The figure is lower than initial expectations in light of the fact that a better performance would be necessary to reach the minimum 1.6% GDP growth target.

As sources from the General Accounting Office and the Bank of Greece told protothema.gr, the modest third-quarterer results are largely due to the impact of fiscal policy and overtaxation.

In an effort to compensate for a shortfall in revenues the government cut back heavily on public spending to overcome in order to distribute a social dividend, a move that negative impacted the course of GDP, thus nullyfying the positive results of the rise in tourism.

You may be interested

JOKER results: Thursday 21 June 2018
GREECE
shares37 views
GREECE
shares37 views

JOKER results: Thursday 21 June 2018

Panos - Jun 21, 2018

The winning numbers from the JOKER draw on Thursday 21 June 2018 are as follows:

Greek MoD: Turkey will receive crushing reply if it tries to dispute our sovereign rights
GREECE
shares30 views
GREECE
shares30 views

Greek MoD: Turkey will receive crushing reply if it tries to dispute our sovereign rights

makis - Jun 21, 2018

Greek Defence Minister Panos Kammenos issued a stark warning to Turkey saying if at any point it disputed the sovereignty…

Crucial Eurogroup meeting underway
FINANCE
shares30 views
FINANCE
shares30 views

Crucial Eurogroup meeting underway

makis - Jun 21, 2018

The crucial Eurogroup meeting that will determine the Greek debt and the post-programme surveillance until 2022 has commenced in Luxembourg.…

Leave a Comment

Your email address will not be published.