Improved forecasts for recession in Greece
- Written by E.Tsiliopoulos
The European Commission's forecasts for economic recession in Greece are rather improved compared with August when the Memorandum was drafted said commissioner Pierre Moskovisi, presenting the Commission's forecasts for the Greek economy, on Thursday.
Specifically, P. Moskovisi reported that in August the Commission forecasts for the contraction of the Greek economy were higher by one percentage point.
He stressed that the Greek economy in 2015 is on the decline, but is able to recover. He said that in the second half of 2016 the Commission foresees economic recovery, which will become more powerful in 2017.
However, the French commissioner stressed that the prerequisite for the recovery of the Greek economy is the implementation of reforms.
As he said, the first basic steps should be to implement the first prerequisite package and a positive decision of the Eurogroup on Greece, on Monday.
Concluding, P. Moskovisi stressed that the positive efforts of Greece should continue with the implementation of the second package prerequisites.
