WSJ: Greek growth forecast not good

28 September 2016
673 Views

According to Wall Street Journal, Greece’s economic recovery is proving elusive, challenging the forecasts of the country’s government and foreign creditors still counting on growth reviving this year.

The International Monetary Fund said last week that growth will only restart next year, on a conference call with reporters, without offering details. The bailout agreement between Greece and its German-led creditors assumes rapid growth from late 2016 onward, including an official forecast of 2.7% growth in 2017, while economists believe next year’s growth could be closer to 0.6% . Of particular concern is that exports, which are supposed to lead Greece out of trouble, are on a slow downward trajectory, hampered by capital controls, taxes and a lack of credit.

“There is no chance we will see a rebound unless we see some bold political decisions that would introduce a more stable business environment,” said Dimitris Tsakonitis, general manager at mining company Grecian Magnesite.

You may be interested

Ancient Olympia: The International Olympic Academy is safe for now – Battle with the fire resurgences (video)
GREECE
shares14 views
GREECE
shares14 views

Ancient Olympia: The International Olympic Academy is safe for now – Battle with the fire resurgences (video)

Panos - Aug 05, 2021

A new alarm for Ancient Olympia as, early in the morning, a new front emerged, heading towards the facilities of…

Evia: Villages evacuated – Kechries in a fiery “siege” – Difficulties for the air means to operate (video)
GREECE
shares13 views
GREECE
shares13 views

Evia: Villages evacuated – Kechries in a fiery “siege” – Difficulties for the air means to operate (video)

Panos - Aug 05, 2021

The battle with the flames in Evia continues, with the first light of day. At 7:30 in the morning, the…

The Real Star Wars Universe – The countries the global franchise was shot in (infographic)
WORLD
shares27 views
WORLD
shares27 views

The Real Star Wars Universe – The countries the global franchise was shot in (infographic)

Panos - Aug 03, 2021

May the fourth was a good day for fans of the Star Wars franchise and wordplay so, being both of…

Leave a Comment

Your email address will not be published.