FinMin sources respond to downward revision of growth rates

The downward revision of growth rate forecasts for Greece in 2018 and 2019 due to the Greek economy’s weak growth in the fourth quarter of 201, as noted by European Commissioner Pierre Moscovici, are not surprising, Finance Ministry sources said on Thursday.

The economy’s revival, however, is supported by the following facts, they said: that Greece will meet its primary surplus target of 3.5% of GDP for 2018; the same will hold true for 2019 without extending austerity to 2020; and unemployment is expected to drop by one percentage point (to 20.1% from 21.5%) in 2018 and to 18.4% in 2019, for the first time after 2011.