IMF revised downwards the Greek economy: 2.0 pct in 2019 and 2.2 pct in 2020

he Greek economy will grow by 2.0 pct in 2019 and 2.2 pct in 2020, the International Monetary Fund (IMF) said in its World Economic Outlook report released on Tuesday.

The IMF said the Greek GDP will grow by 2.0 pct this year, rising to 2.2 pct in 2020 but slowing to 0.9 pct in 2024. These estimates are revised downwards after a 2.4 pct growth rate in the 2019 estimate in April 2019.

The IMF’s previous forecasts, back in April, cited GDP growth of 2.4 percent for this year and 2.2 percent next year.

The IMF said it expected the inflation rate to reach 0.6 pct this year, rising by 0.3 pct in 2020, rising to 1.8 pct in 2024. The current account deficit is projected to reach 3.0 pct this year, down 0.5 pct from 2018, rising to 3.3 pct in 2020 and 4.5 pct in 2024.

The Fund revised its estimate for Greek unemployment, with the unemployment rate projected to fall to 17.8 pct in 2018, down 0.3 pct from the previous estimate, falling to 16.8 pct in 2020.