BUSINESS

Ministry’s GDP forecast is reduced to 1.8 percent

EIRINI CHRYSOLORA

TAGS: Finance

A day after the European Commission downwardly revised its Greek growth forecast to 2.1 percent for this year, the Finance Ministry took its own projection even lower, to just 1.8 percent.

The government’s revision down from the original 2.7 percent by almost one percentage point of gross domestic product was revealed yesterday with the publication of an assessment report by the Hellenic Fiscal Council, which is drafting the midterm fiscal plan up to 2021.

The midterm plan itself, which forms part of the bailout review milestones, has yet to be published, but the HFC has included one of its charts in its assessment report.

It therefore emerges that the ministry now expects the economy to grow by just 1.8 percent this year, 2.4 percent in 2018, 2.6 percent in 2019, 2.3 percent in 2020 and 2.2 percent in 2021.

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