Mihalis Sallas: Greek economy to return to positive growth rates in the second half of 2016

A timely completion of the first review of the Greek program and a dynamic implementation of a privatization program, combined with a new development law by the government will help the economy to respond positively later this year and to return to positive growth rates in the second half of 2016, Mihalis Sallas, chairman of Piraeus Bank said on Tuesday.

Speaking to reporters, the Greek banker said he was surprised by a series of announcements made by foreign analysts which were making an effort to create a recessionary environment for the Greek economy this year. “The Greek economy has still to resolve a lot of its structural problems, but I believe that a timely completion of the first review, a speedy implementation of a privatization program and a new development law will help the economy to respond positively returning to positive growth rates in the second half. We will have a positive growth rate for the year,” Sallas said.