Previously, the think tank had determined a small increase this year, while its GDP growth forecast is in unison with the IMF and EU’s 0.6% figure. IOBE had anticipated a 26% unemployment rate for 2014, and has now determined a 26.7% average rate, attributed to public sector layoffs mandated by troika.
The research institute believes that Greece will surpass its tourism revenue goal of 13 billion euros. Additionally, IOBE thinks that European Central Bank stress tests that will be administered later on in 2014, will reveal that the capital necessities of the nation’s four major lenders wil be tiny or almost amount to zero.
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