Greece’s economic recovery is expected to maintain its momentum, with the country’s Gross Domestic Product (GDP) rising by 2.0 pct or slightly more in 2019 and 2020 after an 1.9 pct growth rate in 2018, the Organisation for Economic Cooperation and Development (OECD) said in its economic outlook report released on Tuesday, according to ANA.
The Paris-based organisation expects the Greek economy to grow by 2.1 pct this year and by 2.0 pct in 2020. “Domestic demand will contribute more to economic growth compared with the recent past, counterbalancing a slowdown in export growth,” the OECD noted, adding: “Investments are expected to begin recovering as funding conditions are improving. Higher household incomes, after a recent increase in the minimum wage and an increase in employment will support consumption. Budget primary surpluses continue exceeding medium-term targets, access to international capital markets is improving and a cash buffer is significant,” the OECD said.
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