Greek Economy's Growth to Speed Up in 2020-2021, Bog Report Says
Greek economic growth will accelerate in the coming years, the Bank of Greece said in its interim report on Monetary Policy which was released on Monday. The central bank estimates that the country's GDP will grow by 1.9 pct this year, 2.1 pct in 2020 and 2.2 pct in 2021. The Bank of Greece reiterated that the state budget's primary surplus will reach 2.9 pct of GDP this year, down from a 3.5 pct budget target. The central bank, in its report, acknowledged that the Greek economy has achieved an unprecedented correction of its macro-economic imbalances in the period from 2010 until today, but warned that the economy still faced great challenges, while significant risks came both from the domestic environment - related to a backtracking or abolition of reforms - and the external environment - such as a slowdown of global economic activity because of intensifying trade protectionism and geopolitical tensions.