The Greek economy is set to grow by 1.8 percent this year, the Foundation for Economic & Industrial Research (IOBE) said on Wednesday, revising downward its previous forecast.
Greece’s borrowing costs have tumbled to a record low — dipping below even the US — thanks to rising hopes of a renewed bond-buying program from the European Central Bank and the center-right New Democracy party’s sweeping victory in elections last weekend.
The yield for Greece’s 10-year bond dropped to as low as 2.03 percent, posting a record-breaking spiral of nearly 90 basis points only within the last month.