IMF Revises Greece's Growth Estimates Upwards

IMF Revises Greece's Growth Estimates Upwards

The International Monetary Fund (IMF) revised Greece's 2019 growth estimates upwards to 2.4 pct. This forecast is revised upwards by + 0.6 pct, as in April by 2018, the Fund estimated that this year's growth would be 1.8 pct, according to the World Economic Outlook. According to the report, Greece's growth is estimated at 2 pct this year and 2.4 pct in 2019. In the medium term, the Fund estimated that GDP growth will be 1.2 pct compared to 1.9 pct estimated in its spring forecasts. The IMF estimated that Greece's current account deficit will grow to 0.8 pct of GDP this year, while for 2019 it sees an increase in the current account deficit, estimated at 0.4 pct of GDP. It also estimated that the unemployment rate will fall by 1.6 pct to 19.9 pct this year from 21.5 pct in 2017, while it sees it will further fall to 18.1 pct in 2019. Inflation is expected to be close to 0.7 pct in 2018, it said adding that in 2019 it will further increase to 1.2 pct.

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