IMF: Greek Economy Will Grow in the Short Term, But Not in Medium, Long Term

IMFThe forecasts for the Greek economy are optimistic for the short term, but not for the medium and long term, an International Monetary Fund report says.

According to the IMF World Economic Outlook report, 2016 will see a 0.1% growth, instead of a 0.3% downturn, as the state budget projects.

For 2017, IMF predicts that the Greek economy will run at a 2.8% rate, instead of the 2.7% forecast.

On the other hand, the Fund believes that long-term growth rates will decline in 2021 and will move to the level of 1.8%. The corresponding target of the European Commission is a growth rate close to 3%.

The IMF assessment of the Greek economy in the long term regarding GDP, affects the view of the European Commission on the Greek debt. This is one of the reasons why the Fund insists on strong restructuring of the Greek debt.


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