Greek Economy

OECD Forecasts 2.1 Percent GDP Growth for Greece in 2019

Greece's economic recovery is expected to maintain its momentum, with the country's Gross Domestic Product (GDP) rising by 2.0 percent or slightly more in 2019 and 2020 after an 1.9 percent growth rate in 2018. These latest figures come...

Bloomberg Says Greek Economy Among "Most Miserable" in the World

  The Greek economy remains among the five most difficult economies in the entire world, according to Bloomberg survey published on Thursday. Despite official declarations that Greece has exited its ten-year crisis, Bloomberg finds that only Venezuela, Argentina, South Africa and Turkey...

Bank of Greece Revises Growth Downward for 2019

The Bank of Greece said in a report on Monday that the Greek economy is expected to grow by 1.9 percent this year, which marks a downward revision to its December estimate of 2.3 percent growth. The new number is...

Moody's Upgrades Greece's Rating by Two Notches

Rating agency Moody's announced on Friday it has upgraded Greece's sovereign credit rating by two notches from "B3" to "B1" with a stable outlook. In a statement, Moody's explained that its upgrade reflected the strengthening of Greece's economy thanks to...

EU Positive on Greece's Growth But Encourages Reforms

The European Commission on Thursday revised their forecast for Greek economic growth slightly upward in 2019 and 2020, but warned that the nation's economic recovery depends on needed reforms. According to its interim economic forecast, the Greek economy is set to...

OECD Says Greek Economy to Grow by 2.2 Percent in 2019

Economic growth in Greece will exceed two percent in 2019 and 2020, the Organisation for Economic Cooperation and Development (OECD) stated in its Economic Outlook report, released on Wednesday. The report notes that the GDP in Greece is projected to...

EU Commission's Autumn Forecast: Greek Economy To Grow By 2 % in 2019

The Greek economy is expected to grow by 2 per cent in the next three years, the European Commission said in its autumn forecast report released on Thursday. The Commission report noted that Greece exited the adjustment program with...

World Economic Forum: Greek Competitiveness Drops in 2018, Falls to 57th

Greek economic competitiveness declined in 2018. According to the World Economic Forum's annual report, Greece ranks in 57th place in competitiveness among 140 countries, below Bulgaria (51st) and Romania (52nd). The Global Competitiveness Report 2018-2019 uses the Global Competitiveness Index 4.0...

U.S. Commerce Secretary Ross Calls on Greece to Remove Restrictions on Business

Greece completed its fiscal adjustment program successfully, and the next step is for the economy to enter a trajectory of real growth, U.S. Commerce Secretary Wilbur Ross says in an interview to national broadcaster ERT. The most important thing that...

Special Rules for Greek ECB Borrowing to End After Bailout Exit

Greece will be unable to access cut-rate European Central Bank funding from Aug. 21 -- a day after the expected 'official' exit from the country's economic bailout program. The ECB on Friday released a statement which indicated that the end...