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IMF Report on Greece: Growth -2%, Unemployment 18.5% for 2012

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%.

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