KEPE forecasts return to growth from this quarter

The Center of Planning and Economic Research (KEPE) expects Greece’s economy to revert to expansion in the current quarter and that growth will amount to 0.5 percent at the end of the year, according to a report issued on Tuesday.

“This estimate highlights that 2014 will be a transition year from the long recession that started in 2008 to a state of growth,” the report reads. “The anticipated beginning of the growth period within the year reflects the considerable progress regarding the balancing of the main fiscal figures, the return to normality in the credit sector, the promotion of significant reforms and the strengthening of competitiveness, which have resulted in an improvement of domestic economic sentiment and the bolstering of the country’s credibility.”

KEPE expects growth of 0.09 percent in the second quarter, rising to 1.04 percent in the July-September period and 1.35 percent in the last three months of the year.