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Greek Economy Shrinks by a Percentage Lower Than Expected

Greek economy seems to be shrinking 1.4 percent in 2015, a much lower contraction than the 2.3 percent estimated, according to a Reuters report.
Citing sources close to the bailout talks, Reuters says that the creditors had agreed with the new projection. The estimate for a 1.3 percent drop in output for next year remains.
Earlier this month, Greek Economy Minister Giorgos Stathakis stated the decrease in output was also expected to be lower, contracting by about 1.5 percent this year.
Stathakis said in parliament that the economy will benefit from a strong performance in tourism and the capital controls imposed since summer had a milder impact than expected.

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