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IMF predicts shocking 10% recession for Greece in 2020 due Covid-19 crisis

Featured IMF predicts shocking 10% recession for Greece in 2020 due Covid-19 crisis

The IMF estimates that the effects of the coronavirus crisis on the Greek economy will be devastating due to the hard impact on tourism.

In its World Economic Outlook report released in Washington, the ‘good case’ scenario predicts a 10% recession in Greece this year, the largest in the Eurozone, even worse than in Italy with 9.1%. However, it predicts a recession of only 2.8% for Malta and 6.5% (for Cyprus) and above for all other EU countries.