Finance Minister Claims Greece Will Return to Growth Shortly
Today, Greek Finance Minister Yannis Stournaras declared that Greece will return to growth shortly, while speaking at the Greek-German Chamber of Industry on Commerce's "Challenges and Prospects for the Greek Economy: The Day After".
The Finance Minister addressed the nation's past financial challenges, including its discussed 2012 euro exit and economic return over the past four years. Stournaras focused on the 19.4% of GDP and Greece's economic adjustment. He highlighted the nation's stellar achievement, that no other state has achieved during such a small time frame as Greece had. He referenced ELSTAT statistics regarding GDP growth in 2014's first quarter, which demonstrate the country's positive economic direction.
The Finance Minister added that Greece achieved a GDP primary surplus of 0.8% in 2013, compared to a zero surplus target, which amounted to over 85% of the requirement by 2020. Additionally, Stournaras discussed lightening Hellenic debt, regarding Eurogroup's 2012 mandates. A decision will be made after European bank stress tests are conducted in October.
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