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European Commission Expects 2.7% Growth in Greek Economy in 2017

The Greek economy grew 0.3 percentĀ in 2016 and is expected to grow by 2.7 percent this year and by 3.1 percent in 2018, the European Commission said in its winter forecasts.
The EU’s executive, in a report released on Monday, said that the Greek economy’s picture was improved compared with the Commission’s autumn estimates which saw a 0.3 percentĀ contraction of the Greek GDP in 2016.
The country’s fiscal deficit is expected to fall to -1.1 percentĀ of GDP in 2016, from a -2.5 percentĀ autumn estimate, to remain stable in 2017 and to turn into a 0.7 percentĀ surplus in 2018.
The Greek public debt is expected to reach 179.7 percentĀ of GDP in 2016 (down from a previous estimate of 181.6 percentĀ in autumn), falling to 177.2 percentĀ in 2017 and to 170.6 percentĀ in 2018.
The unemployment rate is projected to fall from 23.4 percentĀ of the workforce in 2016 to 22 percentĀ in 2017 and to 20.3 percentĀ in 2018.
The inflation rate is expected to be zero in 2016, rising to 1.3 percentĀ in 2017 and to 1.0 percentĀ in 2018.
Finally, investments are projected to rise significantly by 12 percentĀ in 2017 and by 14.2 percentĀ in 2018, from 4.0 percentĀ in 2016.
Source: ANA-MPA

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