GDP flat at 184.5 bil­lion eu­ros in 2016

Kathimerini English - - Focus -

Greek eco­nomic growth was flat last year, the coun­try’s sta­tis­tics ser­vice ELSTAT said yes­ter­day, re­leas­ing its first es­ti­mate of ful­lyear 2016 gross do­mes­tic prod­uct. It said gross do­mes­tic prod­uct in vol­ume terms and mea­sured at con­stant prices was 184.5 bil­lion eu­ros last year, un­changed from 2015. ELSTAT’s es­ti­mate, based on sea­son­ally un­ad­justed data, showed the econ­omy per­formed worse than the coun­try’s of­fi­cial cred­i­tors were ex­pect­ing based on their re­cent fore­casts. The Euro­pean Com­mis­sion, in its win­ter fore­cast pub­lished in Fe­bru­ary, pro­jected GDP growth of 0.3 per­cent in 2016 while the In­ter­na­tional Mon­e­tary Fund’s up­wardly re­vised es­ti­mate saw GDP growth of 0.4 per­cent. Both expect Greece’s econ­omy to re­cover this year with gross do­mes­tic prod­uct grow­ing by 2.7 per­cent. ELSTAT said its sec­ond es­ti­mate of

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