The Greek economy will grow by 2.0 pct this year and 2.4 pct in 2020, the European Bank for Reconstruction and Development (EBRD) said in its autumn economic forecasts report released on Tuesday, according to ANA.
EBRD announced the economic recovery that began in 2017 continued in 2018 and the first half of 2019, although at a slightly slower pace than expected, with 1.9 percent GDP growth in 2018, and 1.5 percent growth year on year in the first half of 2019.
Investment is the key to a full economic recovery and is expected to rise as the health of the financial sector improves. Nonperforming exposures remain exceptionally high but should lower significantly over time, an expectation helped by the October 2019 approval by the European Commission of a new asset protection scheme.
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