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Tag Archives: growth

Greece’s economy recorded growth of 1.9% in 2019

Greece’s economy grew by 1.9% in 2019, with the country’s Gross Domestic Product totaling 194.4 billion euros from 190.8 billion in 2018, Hellenic Statistical Authority said on Friday. The statistics service, in a report, said that Greek GDP fell 0.7 pct in the fourth quarter of 2019 from the third …

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“Greece on growth trajectory, great potential for global investors,” says PM

Greek Prime Minister Kyriakos Mitsotakis has hailed the historicrecord-breaking yield for the 10-year bond, yield that fell below 1 percent on Wednesday. In a tweet on the his prime minister’s account, Mitsotakis said that “Greece is now on a growth trajectory,” making the country a “great opportunity for global investors.” …

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EU Commission warns Greece relief measures “a risk for agreed primary surplus”

The European Commission released the European Semester 2019 Spring Package with recommendations for all Member States in order to advance sustainable and inclusive economic growth. On its 7-page long report on Greece, the Commission notes that “Greece is currently in the preventive arm of the Stability and Growth Pact and …

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Tourism growth over last 4 years helped Greece exit bailout agreements, says…

Tourism growth in the last four years has helped Greece exit the bailout agreements, said Tourism Minister Elena Kountoura. Tourism has attracted more than 400 investment projects, she added. Speaking to state news agency amna, Kountoura said “This great tourist development with growth over 35 percent in the last four …

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Bank of Greece lowers growth prospects for 2019 to 1.9%

The Bank of Greece on Monday lowered growth prospects for 2019 to 1.9 percent, from a previous forecast of 2.3%. It said that the country’s GDP grew by 1.9% in 2018, down from an initial 2.1 pct growth rate. The state budget envisages a growth rate of 2.5 pct this …

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IMF revises upwards its growth estimations for Greece

The International Monetary Fund (IMF) has revised its growth projections for Greece in 2019. The IMF is more optimistic about  the growth pace and estimates upwards to 2.4%, from 1.8% in its April projections. It keeps unchanged its estimation for 2018 at 2%. This forecast is revised upwards by + …

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Commission Forecast 2018 revises down Greece’s growth

The European Commission Spring Forecast has revised down Greece’s growth in 2018 to 1.9% from 2.5% and for 2019 to 2.3% from 2.5%. The revision followed a smaller than expected growth rate last year. For next year, the EC projects a 2.3 percent growth rate for Greece, lower than its …

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ECB: Greece has the lowest growth rate in Eurozone

Greece recorded the lowest growth rate in 2017 among the EU member-states, according to the  annual report of the European Central Bank released  on Monday. The Greek GDP amounted to 1.4%, compared with a 2.3% average in the eurozone, while Ireland’s figure stood at 5%. According to the report, the …

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Growth is Greece at 1.4% in 2017, says ELSTAT

Greece's economy grew for a fourth straight quarter in October-December, driven by stronger investment spending, but the pace was slower than in the previous quarter, the statistics service ELSTAT said on Monday. Seasonally adjusted data showed gross domestic product rose 0.1 percent in the fourth quarter of 2017, the expansion …

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Fitch raises Greece’s debt rating to “B”, citing stability, growth

The Fitch ratings agency on Friday upgraded Greece’s sovereign debt grade, citing budget surpluses, greater political stability and the growing economy. The agency raised the debt rating one notch to ‘B’ from ‘B-,’ leaving the country in the “highly speculative” category but with a positive outlook. The decision followed a …

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Greece’s growth numbers disappoint, consumption spending declines

Greece’s independent statistics agency ELSTAT said the country’s economy grew by 1.3 percent on the year in the previous quarter, failing to meet ambitious growth expectations from the government and European Union. Without a revision, the July-September growth figure announced Monday suggests that Greece could miss its target of annual …

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IMF growth projection for 2018 at 2.6% of Greece’s GDP

The International Monetary Fund on Tuesday said the Greek economy will grow by 2.6 pct in 2018, up from a 2.4 pct growth rate estimate envisaged in a draft budget plan tabled to Parliament by the Greek government last week. The IMF expects the Greek economy to grow 1.8 pct …

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Greece’s draft budget sees primary surplus 3.57% of GDP in 2018

Greek state budget will record a primary surplus of 3.57 pct of GDP, or 6.671 billion euros, according to the draft budget plan tabled to Parliament on Monday. The draft budget also envisages a significant surpass of an 1.75 pct target for the primary surplus of 2017, which will be …

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EU cuts Greece growth forecast, blames the country for review delay

The European Union has sharply cut the growth forecast for Greece on Thursday, sparking worries that the long delay in the second review of the third bailout program was damaging the economy. European lenders are in a row the International Monetary Fund over the sustainability of the Greek debt. The …

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