Advance payments from an EU Recovery Fund will finance investments worth 3.3 pct of GDP (around 5.5 billion euros) this year, Bank of Greece governor Yannis Stournaras said on Wednesday and called on Greek banks to make additional provisions to cover an expected new wave of non-performing loans, ANA reports.
Addressing an online debate, held in the framework of an ECB initiative to re-examine the strategy of monetary policy in the Eurosystem, Stournaras underlined it was necessary that urgent fiscal and monetary measures taken to deal with the consequences of the pandemic be removed gradually when the health situation returns to normal.
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