Yannis Palaiologos

Yannis Palaiologos

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Brussels forecasts slightly smaller recession for Greece

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Greece’s economy is set to shrink by 9% this year instead of 9.7% as estimated two months ago, the European Commission said in its Summer Forecast, published on Tuesday, adding the rebound in 2021 will also be smaller than estimated in its Spring Forecast, at 6% of gross domestic product instead of 7.9%.