ECB: Greece Forecasted to Achieve Growth Rate of 0.1% of GDP in 2016

The European Central Bank (ECB) forecasts that Greece will achieve a growth rate of 0.1 percent of GDP in 2016, in the Eurosystem staff macroeconomic projections for the euro area countries posted on its website on Thursday.

Growth rates in the country are then seen rising to 2.5 percent of GDP in 2017 and 3 percent of GDP in 2018 and 2019.

For unemployment, the ECB projections see this falling to 23.5 percent in 2016, 22 percent in 2017, 20.5 percent in 2018 and 19 percent in 2019. Inflation is seen rising to 0.1 percent in 2016, 1.1 percent in 2017, followed by 1 percent in 2018 and 1.2 percent in 2019.

Throughout the Euro area, real GDP is expected to rise 1.7 percent in 2016 and 1.6 percent in 2018 and 2019. Unemployment is forecast to reach 10 percent in 2016, while Eurozone inflation will increase from 0.2 percent in 2016 to 1.3 percent in 2017.

Source: ANA-MPA


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