The Greek economy is expected to grow by 2.7 pct in 2021, under the base scenario of the Parliament’s State Budget Office’s economic outlook report released on Tuesday, according to ANA.
Officials said they expected the Greek economy to contract by 7.0 pct in the first quarter of 2021 and that this trend will be reversed from the second quarter onwards. The report also presented two more scenarios based on the possibility of an additional fiscal intervention worth 5.0 billion euros through transfers or in public consumption. “ In the first case, the growth rate will reach 3.65 pct, while in the second the growth rate will reach 4.84 pct,” it noted.
The report stressed that despite adverse economic and fiscal developments, the country’s credit rating remained strong, as shown with the successful completion of a 30-year bond issue.
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