Thursday October 23, 2014 Search
Weather | Athens
22o C
16o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Economy to shrink by 4.6 percent, unemployment to hit 28 percent in 2013, says BoG report

Fears that Greece may exit the eurozone are now remote but its economy will stay in recession for a sixth straight year in 2013 and unemployment will rise further before recovery sets in next year, the country's central bank said on Wednesday.

The Bank of Greece sees the economy contracting by 4.6 percent this year, slightly more than a previous 4.5 percent forecast.

The jobless rate will peak at around 28 percent from currently 27 percent and will start declining in 2015, the central bank said in a monetary policy report.

The Bank of Greece expects consumer price deflation at an average rate of 0.3 percent this year, more than a previous forecast of 0.1 percent deflation. The core inflation rate, which excludes energy and food, is seen at -1.1 percent this year.

Urging the government to stay the course of reforms and meet fiscal targets agreed with international lenders, the central bank said achieving budget targets would bolster confidence and eliminate the need for more austerity measures.

"The climate is more favourable today for the speedier pursuit of policies aimed at translating the improvement in expectations into real economic activity," the Bank of Greece said in its monetary policy report.

[Reuters]

ekathimerini.com , Wednesday May 29, 2013 (14:18)  
Solidarity tax to be extended for two years
Spanish unemployment lowest since 2011 as economy grows
EU requests clarification on Italy´s ´breach´ of budget goals
German survey props up European shares
Conspiracy of the Cells of Fire suspect arrested over bail violation
Police in Dimitsana, in Arcadia in the Peloponnese, on Thursday arrested Stella Antoniou, who is facing charges of involvement in the urban guerilla group Conspiracy of the Cells of Fire, fo...
Highway traffic to be disrupted on Corinth-Patra route
Traffic was expected to be disrupted on a section of the national highway between Corinth and Patra in the Peloponnese from Thursday evening to early Friday morning for roadworks, it was ann...
Inside News
SOCCER
Roberto´s heroics make Kasami´s goal count
Pajtim Kasami’s goal and Roberto’s heroics in goal saw Olympiakos claim one of the biggest wins in its history on Wednesday downing Italian champion Juventus 1-0 to boost its chances of reac...
SOCCER
Third-division Iroditos punished heavily after fan death
Greek third division team Irodotos has been docked 15 points and ordered to play 10 matches behind closed doors following the death of an Ethnikos Piraeus supporter, the Hellenic Football Fe...
Inside Sports
COMMENTARY
Defusing a crisis
The crisis in Cyprus is escalating rapidly and defusing it is an extremely delicate and complicated procedure that will inevitably lead to losses for the weakest of the two sides. The course...
EDITORIAL
PM needs to step up
The public perception of the government is anything but good right now. The coalition is projecting an image of discord and constant disputes show that key ministers are unable to stay on th...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Conspiracy of the Cells of Fire suspect arrested over bail violation
2. Highway traffic to be disrupted on Corinth-Patra route
3. Solidarity tax to be extended for two years
4. Spanish unemployment lowest since 2011 as economy grows
5. EU requests clarification on Italy´s ´breach´ of budget goals
6. German survey props up European shares
more news
Today
This Week
1. Strong winds hamper sea travel
2. TBEX brings together 800 travel bloggers in Athens
3. Cyprus president to sit out EU summit due to high blood pressure
4. Arrivals show increase in January-June 2014 period
5. Samaras to represent Anastasiades at European Council meeting
6. Nissan recalling 260,000 vehicles globally with Takata air bags
Today
This Week
1. Coalition shooting itself in the foot
2. Istanbul skyscraper casts shadow over Greece's banking ambitions
3. Greece’s closed society is central to its current malaise
4. The past, present and future of the Greek debt crisis
5. Greece must stick to reforms, says Schaeuble
6. At least 11 banks to fail European stress tests, three in Greece, report says
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.