Con­trac­tion seen at 1.4 pct this year

Kathimerini English - - Focus -

Greece’s re­ces­sion this year is ex­pected to be shal­lower than ini­tially fore­cast, with of­fi­cials ex­pect­ing a drop in out­put of 1.4 per­cent from ear­lier es­ti­mates of a 2.3 per­cent con­trac­tion, sources said yes­ter­day. Sources close to bailout talks said that the lenders had agreed with the new pro­jec­tion. The es­ti­mate for a 1.3 per­cent drop in out­put for next year re­mains. Econ­omy Min­is­ter Gior­gos Stathakis on Oc­to­ber 7 said the drop in out­put was also ex­pected to be milder, con­tract­ing by about 1.5 per­cent this year. He told law­mak­ers last week the econ­omy will ben­e­fit from a strong per­for­mance in tourism and a milder im­pact than ex-

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