Good News for Economy as 3rd Quarter Growth, Budget Surplus Figures Surpass Targets
Wednesday, 16 November 2016
The figures recorded by Greece's independent statistical authority ELSTAT in its quarterly national accounts estimates reflect a positive growth course for the Greek economy, government spokesman Dimitris Tzanakopoulos said on Monday. The news was also welcomed by the Federation of Hellenic Enterprises (SEV), which said the economy appeared to be entering a stabilisation phase after the first review of the Greek programme was concluded.
"GDP growth showed a 1.5 pct increase in the 3rd quarter of 2016 compared with the same period in 2015 and a 0.5 pct increase compared with the second quarter of 2016. The Greek economy has not seen a similar rate of growth since the first quarter of 2008," Tzanakopoulos pointed out.
According to the spokesman, the economy's performance had exceeded even the most optimistic forecasts and confirmed that it had already begun a steady upturn toward growth.