BUSINESS

EU cuts Greece’s growth forecast

TAGS: Economy

The European Commission has revised downward its forecast of Greece’s economic growth to 2.1 percent this year, from a previously estimated 2.7 percent, and to 2.5 percent in 2018 from 3.1 percent, data released Thursday showed.

Speaking during a press conference at the EU Commission headquarters in Brussels, European Economic and Financial Affairs Commissioner Pierre Moscovici said that the readjustment was mainly a result of delays in concluding the second bailout program review.

“If Greece aims at high growth rates, it must immediately and smoothly conclude the second program review,” Moscovici said.

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