Greek Economy Grew by 1.9% During Second Quarter of 2019



The Greek economy grew by 1.9 percent during the second quarter of 2019, compared to the corresponding period in 2018, the Greek Statistical Authority (ELSTAT) announced on Wednesday.

The statistics service also announced that Greek GDP rose 0.8 percent in the second quarter compared with the first quarter of 2019.

However, the GDP showed an increase of 1.3 percent in the first quarter on a year-by-year basis.

The target of this year’s Greek budget envisages an average growth rate of 2.3 percent for this year.

More specifically, and according to today’s announcement, final consumption spending rose 0.7 percent compared to the first quarter of 2019.

Gross fixed capital investments rose 2.4 percent, the exports of goods and services rose 3.3 percent and imports of goods and services fell 0.8 percent compared with the first quarter of the year.

On an annual basis, final consumption spending grew 1.2 percent compared with the second quarter of 2018, gross fixed capital investments fell 5.8 percent, the exports of goods and services rose 5.4 percent and imports of goods and services rose 3.7 percent.

The Greek government now hopes that during the remaining two quarters of 2019, the expected boost in summer tourism revenues will speed the country’s economic growth rates even further.

With information from AMNA