Greek economy to grow in 2014 says IMF

Greek economy to grow in 2014 says IMF

 

Review Hari Stefanatos

Greece will return to growth in 2014,  while 2015 will signal a further strengthening of economic activity in the country. There is also a prediction for the reduction of unemployment, according to the biannual report on the state and prospects of the global economy (World Economic Outlook), issued by the International Monetary Fund. According to the report, the growth rate of the Greek economy will be 0.6% in 2014 and 2.9% in 2015, with unemployment expected to fall 26.3% this year and at 24.4% in 2015. The IMF states that the deflationary pressures will continue, raising inflation by 0.4% in 2014 and 0.3% in 2015 .

Generally for the eurozone, it is stressed that inflation levels will form at levels much lower compared to the stated objective of the European Central Bank. The Fund calls for “bolder action” on the matter. According to the report, there is a prediction for a current account surplus at 0.9% of GDP in 2014 and at 0.3% of GDP the year after that. In regard to the global economy, the IMF predicts improvement and strengthening by 3.6% in 2014 and by 3.9% in 2015.

(Source AMNA)