The Greek economy is expected to grow by 2.5 pct this year and in 2019, the European Commission said in its economic outlook estimates for the 2017-2018 period, released on Wednesday, according to ANA.
The report, titled “The Greek economy grows again”, said that economic recovery was expected to strengthen in the coming years and to support an increase in employment. Nevertheless, it noted that “a steady commitment for structural reforms is of vital importance for the continuation of growth”.
“It is the first time since 2008 that the Greek economy is growing for three successive quarters,” the Commission report stressed, noting that real GDP in Greece grew by 0.3 pct in the third quarter of 2017, for an annual growth rate of 1.1 pct for the first three quarters of 2017. The Commission estimates that net exports were the driving force of recovery in the second and third quarter of 2017, as Greece has begun benefiting from a wider recovery in Europe and an improvement in its competitiveness, achieved through structural reforms.
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