Tag Archives: growth

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 …

Read More »

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 …

Read More »

Greece’s economy continued growing in the second quarter of 2017, with GDP rising by 0.8 percent on a year on year basis and 0.5 percent in volume terms compared with the first quarter of the year, Greek statistics service ELSTAT announced on Friday. In the first quarter of 2017 the …

Read More »

Hair salons, dry cleaners, funeral parlors, electronic repair shops and gyms. These are the businesses that flourish in crisis-stricken Greece, the Hellenic Federation of Enterprises (SEV) said in its bulletin issued this week. But such businesses do not bring growth, SEV underlines. Such businesses will not bring growth, as the only …

Read More »

Greek statistics Authority ELSTAT announced the Gross Domestic Product (GDP) for the first quarter of 2017. According to ELSTAT provisional data, the Greek economy grew by a slim 0.4 percent in the first three months of 2017. The date revise a contraction of 0.1 percent reported in May. “The available …

Read More »

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 …

Read More »

“Growth in 2017 is a fact, not wishful thinking,” Economy and Development minister Dimitris Papadimitriou said on Wednesday. The year 2017 will be time for real growth in Greece the minister said and assured that there are no new measures to burden the people “from now until 2018”, while in …

Read More »

The European Commission will revise down its growth forecast for Greece this year to around 2% from a previous 2.7%, an EU official said today. The revision – which brings the Commission closer to International Monetary Find projections – is likely to increase pressure on Greek politicians to adopt a reform …

Read More »

“There are great social problems that need to be solved step by step, but for the first time we are facing the exit of the seven-year crisis”, government spokesman Dimitris Tzanakopoulos on Friday said in an interview to Kokkino radio station. He underlined that the issues remaining to be solved …

Read More »

With its forecast report the International Monetary Fund set the base for a new negotiation between the Fund and Greece’s  European lenders, that is Berlin. In its Fiscal Monitor 2017, the IMF forecasts for Greece a gap of 2.7 billion euros for 2018. The fund estimates that the primary surplus …

Read More »

The International Monetary Fund has lowered its projections on Greek growth from last fall and warned against “unreasonable forecasts” and “unjustifiable frameworks” by the country’s European creditors. In its World Economic Outlook, published on Tuesday, the Fund argued that growth in Greece this year will come to 2.2 percent against …

Read More »

Greece’s Prime Minister Alexis Tsipras was confident that the times of recession were over and that “Greece has returned back to growth” as he told his cabinet ministers. However, the reality was not kind and the Greek Statistics Authority ELSTAT released short after Tsipras speech some shocking data: that recession …

Read More »

Prime Minister Alexis Tsipras warned eurozone leaders on Thursday Greece would struggle to return to sustainable growth without a debt-relief deal. In an interview with French newspaper Le Monde, Tsipras said he expected the recession-stricken Greek economy to return to growth in 2016 and expand by 2.7 percent next year …

Read More »

European Economy Forecast – Spring 2016. things looks better for Greece with recession at 0.3% and not 0.7% as predicted by the country’s lenders. In general, the EU forecast for Greece expects “Growth to return in the second half of the year.” The Economy more resilient than expected in 2015. …

Read More »

The Bank of Greece released its Monetary Policy interim report 2015. Although the detailed analysis is 159 pages long, the essence can be summarized in one sentence: Greece must apply the Agreement with the creditors in full detail. Stressing that “recapitalisation of the four significant Greek banks has been successfully …

Read More »

The European Commission sees Greece’s economy returning to recession in 2015 and the following year, with growth only materialising in 2017, and urged the Greek government to comply fully with the terms of the third lending agreement in order to restore economic confidence. According to finance news MNI.com, in its …

Read More »

Welcome to the real world! For one more indirect time the International Monetary Fund “admits” what it has been wrong in its economic policies. And tries to find out what went wrong. It sees no growth, but bleak future. And keeps the whole problem on a pure academic level.  Speaking …

Read More »

The Organization for Economic Cooperation and Development cut its global growth forecast, saying investment is lagging and risks including a possible Greek default are hurting confidence. In its semi-annual report the OECD says  that “the world economy will expand 3.1 percent this year, down from the 3.7 percent predicted last …

Read More »

IMF’s chief economist Olivier Blanchard expressed hope that there will be an agreement with Greece, however he stressed at the same time that a Greek crisis cannot be ruled out. By “Greek crisis” Blanchard probably meant a “Greek exit from the euro” because as everybody knows since long ago that …

Read More »

Greece had growth. Back in 2014. Everything was fine with the creditors, the unemployment was just 25% – from 27% the year before – the state was paying its suppliers and outstanding debts, consumers were spending money like there was no tomorrow and in addition there was also a primary …

Read More »