Greek Economy to Grow by 2.7% in 2017 if Reforms Implemented, Moscovici Says
The European Commission forecasts that the Greek economy will return to growth in the second half of the year and could grow by 2.7 pct in 2017 on the condition that the country implements vital reforms agreed in a bailout programme, EU Commissioner for Economic Affairs Pierre Moscovici said in video address shown at a conference in Greece on Friday.
In his message, Moscovici said implementation of the reforms would lay the groundwork for a return of confidence, allowing an expected lifting of capital controls in the country.
Referring to the course of implementation of the economic adjustment programme, the Commissioner stressed that the steps made since August “are encouraging and now we can turn our attention to completing the first review of the programme, which must be completed soon to restore confidence. Greece must promote certainty – political, legal, administrative. Because uncertainty gives birth to more uncertainty.”
He address was shown at the Delphi Economic Forum, held in the municipality that includes the iconic archaeological site in central mountainous Greece.
ANA-MPA