Friday May 29, 2015 Search
Weather | Athens
14o C
09o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Commission’s winter forecast points to Greek economic spring

European Commissioner for Economic and Monetary Affairs Olli Rehn

By Eleni Varvitsioti

The winter forecasts of the European Commission confirmed on Tuesday that the Greek economy is emerging from the shadows of recession with expected growth this year reaching the target of 0.6 percent.

The forecasts, presented in Strasbourg, also showed that Greece enjoyed a primary surplus last year amounting to 2.2 percent of gross domestic product, also within the estimate of the 2014 budget.

“Greece has for the first time since 1948 reached a current account surplus,” European Economic and Monetary Affairs Commissioner Olli Rehn said, adding that it is also likely to show a primary surplus for 2013 as well.

A Finance Ministry source said on Tuesday that “the winter forecasts of the Commission confirm the validity of the government’s estimates on the application of the 2013 budget. According to both the Economic Policy Program and the European System of Accounts, Greece has achieved a higher-than-forecast primary surplus even earlier.”

A spike in tourism which began in the spring of 2013 played a major role in reversing a 3.7 percent contraction in 2013 to a 0.6 percent expansion this year, the report stressed. Even more impressive is the forecast for growth of 2.9 percent of GDP next year.

The report stressed that these positive estimates will materialize only if all targets in the Greek fiscal adjustment program are met this year and next via the measures currently under negotiation between Athens and its creditors. It also warns of risks in policy changes “that could undermine confidence, affecting investments and exports.”

Unemployment is set for a moderate decline by 2015, from 27.1 percent in 2013 to 24 percent next year, thanks to salary regulations, programs to bolster employment and the increase in investments expected in the next two years.

ekathimerini.com , Tuesday February 25, 2014 (23:01)  
Italy braced for shocks from Greece, says FinMin
Cyprus tourism income rises 15 percent with surge in arrivals
Schaueble plays down positive reports from Athens
Greek bank deposits fall to lowest in more than a decade
Civil aviation union cancels action on minister’s pledge
The Federation of Civil Aviation Authority Unions (OSYPA) called off Friday a 48-hour strike that was due to take place Saturday and Monday. The decision to cancel the planned action was tak...
4.2-magnitude quake strikes off Crete
An undersea quake, measuring 4.2 on the Richter scale, occurred in the area between Crete and Kassos in the early hours of Friday but no damage or injuries were reported. The quake followed ...
Inside News
SOCCER
Panathinaikos conquers PAOK through Tavlaridis goal
A Stathis Tavlaridis goal has brought Panathinaikos to practically within one point from clinching a spot in next season’s Champions League qualifiers, as the Greens made it three out of thr...
SOCCER
AEK Athens returns to top league after financial collapse
Greek club AEK Athens has just returned to the country's top soccer league, two years after financial collapse sent it to a lower league. One of the country's largest clubs, AEK sealed its s...
Inside Sports
INTERVIEW
The eurozone’s ‘ambiguous’ architecture
“That’s not something you’re supposed to say in public, right?” In his humble way, Thomas Sargent, Nobel Prize winner in Economics, tries to avoid the question posed to him by Kathimerini re...
COMMENTARY
Only Greece can end its miserable ´Groundhog Day´
In the film "Groundhog Day," Bill Murray is condemned to relive the same 24 hours on an endless loop. The happy ending (he gets the girl) only comes when he changes his destiny by becoming a...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Italy braced for shocks from Greece, says FinMin
2. Civil aviation union cancels action on minister’s pledge
3. 4.2-magnitude quake strikes off Crete
4. Traffic accidents down in March
5. Four questioned for trying to sell ancient statuette
6. Bill squeezing private schools to be debated
more news
Today
This Week
1. Greece creditors say no deal near as G-7 frustration vented
2. Only Greece can end its miserable 'Groundhog Day'
3. Next Greek aid program isn’t on table yet, says Moscovici
4. 12 Russians injured in lightning strike at ruins on Crete
5. Some blame EU Commission for Greek obstinacy in debt talks
6. The eurozone’s ‘ambiguous’ architecture
Today
This Week
1. Hotel contracts with a ‘Greek default clause’
2. Some 300 mln left banks on Tuesday
3. Neither Grexit nor a dual currency will solve Greece’s problems
4. No more 'quick and dirty' fixes for Greece
5. Romantic notions meet reality
6. Tsipras faces down radicals within SYRIZA over terms of deal
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.