EC report: Greek economy to expand in 2017

The report stresses the increased growth rate is linked to the implementation of the program. Unemployment remains at an EU high standing at 23.4%, but is estimated to record a gradual drop to 22% in 2017 and 20.3% in 2018, while the growth rate will reach 3.1% in 2018. Greece’s fiscal deficit will amount to -1.1% in 2016, with the EC estimating a primary surplus of 1.5% of GDP, outperforming the 0.5% target. Meanwhile, European Commissioner for Economic and Financial Affairs, Taxation and Customs Pierre Moscovici is scheduled to visit Athens, Wednesday to offer his public support to the Greek government on the second review. The Commissioner underlined that a precondition for the continuation of a positive course of the Greek economy was the implementation of the bailout program and the completion of the second review.