BoG to ad­just 2017 growth es­ti­mate to 1.7 pct

Kathimerini English - - Focus - EIRINI CHRYSOLORA

The Bank of Greece is pre­par­ing a slight up­ward re­vi­sion of its fore­casts for the Greek econ­omy this year, sources say.

Growth in the sec­ond quar­ter this year is now es­ti­mated to have come to 0.8 per­cent on an an­nual ba­sis, lead­ing to the con­clu­sion that the econ­omy will ex­pand by 1.7 per­cent in 2017, as op­posed to the 1.6 per­cent BoG Gov­er­nor Yan­nis Stournaras had forecast in his re­port.

Growth in the first quar­ter amounted to 0.4 per­cent, but the rate is ex­pected to have risen since then thanks to com­ple­tion of the sec­ond bailout re­view and pos­i­tive tourism data.

In its re­port in June the cen­tral bank noted that the econ­omy’s midterm prospects re­mained fa­vor­able, stress­ing the sig­nif­i­cance of the pos­i­tive po­lit­i­cal and eco­nomic de­vel­op­ments in the Euro­pean Union. It also pointed out that the com­ple­tion of the sec­ond re­view would im­prove the fi­nan­cial sen­ti­ment in Greece, while high­light­ing the need to ac­cel­er­ate struc­tural re­forms so as to re­tain the pos­i­tive growth out­look.

Mean­while the Hel­lenic Sta­tis­ti­cal Au­thor­ity (ELSTAT) an­nounced yes­ter­day it is stop­ping the is­sue of so-called “flash es­ti­mates,” is­sued 45 days after the quar­ter they re­ferred to.

Newspapers in English

Newspapers from Greece

© PressReader. All rights reserved.