ECONOMY

Greek economy to shrink 4.6 pct in 2013, IOBE projects

Greece’s economy is expected to shrink by 4.6 percent this year, the Athens-based IOBE think-tank said on Thursday, slightly worse than the recession estimate from the government and the country’s international lenders.

“The forecast is slightly worse than the government’s prediction of a 4.5 percent GDP decline,» the think-tank said in its report.

The European Union and the International Monetary Fund bailing out the country expect the economy to contract 4.2 percent in 2013. [Reuters]