Ominous are the forecasts of the International Monatery Fund for the Greek economy and it sees no exit from the black tunnel we are in. In its Global Report – Autumn 2011, published a couple of days ago, the IMF forecast shocking data for growth and unemployment. In fact it sees no growth and high unemployment. Specifically, the growth will be at -2% and the unemployment at 18.5%. Only Spain will manage to exceed Greece’s unemployment forecasts with 19.7%.
For 2011, IMF had foreseen unemployment at 16.5%. A figure that is expected to be exceededn real life though.
Furthermore, unemployment is expected to grow in the other countries of the Euro Zone in 2012, reaching 9.1%.
