Greek Economy to Grow More than Eurozone Average in 2017/2018, Moody's
Friday, 13 January 2017
The Greek economy will record economic growth rates higher that the Eurozone average this year and in 2018, Moody's Investor Service said in its "Sovereigns -- Euro Area 2017 Outlook: Stable Outlook Amid Subdued Growth And Rising Political Risk", report released on Thursday.
The 2017 outlook for sovereign creditworthiness in the euro area is stable overall, reflecting the likely stable but subdued real GDP growth, the mostly neutral fiscal stance and a modestly declining debt burden, Moody's Investors Service said.
On average, Moody's expects the euro area to grow by 1.3 pct in 2017 and 2018, although growth rates will vary from country to country. Trade growth from outside the euro area is likely to remain weak, and rising protectionist sentiment in many advanced economies, including the US, is likely to place further downward pressure on trade volumes. Some smaller countries -- such as Ireland, Luxembourg, Malta and Slovakia -- are likely to record stronger growth of above 3 pct in both years. Others, such as Greece, Spain and Slovenia will grow more slowly but still exceed the euro area average. The euro area's largest economies -- Germany, France and Italy -- will continue to grow at well below 2% each year.