Greek economy to return to positive growth rates in 2016, Piraeus Bank chairman says

12 January 2016
851 Views

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

Infectious Disease Committee ‘green light’ re-opening of high schools on February 1st – The measures from January 25th
GREECE
shares71 views
GREECE
shares71 views

Infectious Disease Committee ‘green light’ re-opening of high schools on February 1st – The measures from January 25th

makis - Jan 22, 2021

The experts of the Committee of the Ministry of Health gave the “green light” on Friday for the opening of…

EU teleconference Summit: Concerns over Covid-19 mutations and delay in vaccines
GREECE
shares55 views
GREECE
shares55 views

EU teleconference Summit: Concerns over Covid-19 mutations and delay in vaccines

makis - Jan 22, 2021

PM Mitsotakis’ proposal for a European vaccination certificate, which would facilitate travel without the need for a coronavirus test for…

Crete is the most popular holiday destination for Brits
GREECE
shares68 views
GREECE
shares68 views

Crete is the most popular holiday destination for Brits

Panos - Jan 21, 2021

Crete is the most popular holiday destination for this year’s tourist season for the Brits, according to online searches made in…

Leave a Comment

Your email address will not be published.