OECD: Greek economy to begin recovery in H2 2016
- Written by E.Tsiliopoulos
The Greek economy is expected to start recovering in the second half of 2016 as confidence will rise and exports will maintain their dynamism, the Organization for Economic Cooperation and Development (OECD) announced on Monday.
In its six-month Economic Outlook report, the OECD forecasts that the country΄s GDP will contract by 1.4 pct in 2015 and 1.2 pct in 2016, returning to positive growth rates in 2017 (2.1 pct). "Recovery will strengthen in 2017, as structural reforms and a strong external demand will boost investments and job creation," the report said.
The Paris-based organization expects the unemployment rate in Greece to ease to 25.2 pct of the workforce this year, down from 26.5 pct in 2014, falling to 24.8 pct in 2016 and 23.4 pct in 2017, while the inflation rate (harmonized consumer price index) to remain in negative territory this year (-0.9 pct), returning to positive ground in 2016 (0.7 pct) and 2017 (0.5 pct).
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