BUSINESS

Greek think tank IOBE maintains 2018 growth outlook

ANGELIKI KOUTANTOU

TAGS: Economy

Greece's economy will expand by about 2 percent this year, the country's most influential think tank IOBE said in its quarterly review on Wednesday, largely sticking to its previous forecast.

The Foundation of Economic and Industrial Research (IOBE) said in April it expected Greek gross domestic product would grow at an annual 2.1 percent pace from 1.4 percent in 2017.

Greece's economy expanded for a fifth straight quarter in January-to-March and at a faster pace than in the previous quarter.

Greece and its European partners agreed last month on a set of debt measures and a cash injection to help the country emerge smoothly from its third international programme which ends in August.

IOBE said the long-term effectiveness of the debt relief will hinge on Greece continuing on its reform path.

The EU Commission expects Greece to grow by 1.9 percent this year and 2.3 percent in 2019, while IMF sees growth of 2 percent this year and 2.4 percent in 2019. [Reuters]

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