IMF: Greek Economy To Grow By 2.4 % In 2019



Greek flags fly beside those of the European Union in Athens.

The International Monetary Fund (IMF) released its Regional Economic Outlook for Europe report on Thursday, making a more positive forecast regarding the prospects of the Greek economy than the European Commission in its Autumn Forecast report, released the same day.

Specifically, the IMF revised its forecast upward, predicting growth rates of 2.4 per cent for Greece in 2019 and 2.2 per cent in 2020, compared to a forecast of 1.8 per cent growth six months ago.

The European Commission’s Autumn Report forecasts a growth rate of 2 per cent for Greece’s GDP for the next three years.

The head of the IMF’s European Department Poul Thomsen, in a press conference noted that the Fund does not have a program in Greece and is not actively participating in discussions on deciding fiscal and banking system policy.

Regarding the issue of pension cuts, he repeated the Fund’s position that this would be a good “structural measure”, but noted that the IMF does not have detailed figures on the totality of the country’s financial condition.

With information from A.M.N.A.