The Greek economy is gradually returning to normality, Bank of Greece governor Yannis Stournaras said on Tuesday. Speaking in Parliament, in the framework of a briefing of the Parliament’s economic commission on the central bank’s interim report on Monetary Policy 2019, Stournaras stressed the need to deal “with any means” with the high rates of non-performing loans, according to ANA.
The central banker said he expected the Greek economy to grow by 2.5 pct this year and in 2021, after a 2.2 pct growth rate estimated in 2019. For primary surpluses, he said that based on Bank of Greece estimates “a reduction of official targets for primary surpluses in 2021 and 2022 to a more realistic level of around 2.2 pct (from 3.5 pct currently) would not affect the sustainability of public debt and could boost economic growth if combined with a timely implementation of reforms and privatizations.” Commenting on an increase in deposits by 2.0 billion euros in December, to a total of 155 billion euros from 120 billion in July 2015, he said it was positive that money was returning to banks.
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