Government says central bank’s report shows policy mix is working


The government welcomed the central bank's interim report on monetary policy on Friday, saying it confirms the “realistic optimism” of Prime Minister Kyriakos Mitsotakis' cabinet, sources from ruling New Democracy said, adding that the report submitted to the Greek Parliament also confirms the entry of the Greek economy into “an upward spiral.”

In its report, the Bank of Greece said that while the economy is not expected to grow more than 1.9 percent this year, growth rates are expected to reach 2.4 and 2.5 percent for 2020 and 2021 respectively.

It also sees Greece achieving the primary surplus target of 3.5 percent of gross domestic product in 2019 and 2020.

“The BoG report confirms the improvement in the quality of our country's public finances as a result of the changed policy mix with tax cuts and a comprehensive program of reforms and economic policies by the New Democracy government,” the sources said.