Euro­pean Com­mis­sion ex­pects ma­jor in­crease in Greek debt in 2015, 2016: Ger­man news­pa­per

The China Post - - WORLD BUSINESS -

The Euro­pean Com­mis­sion ex­pects a ma­jor in­crease in Greece’s debt over the next two years, the Ger­man daily Die Welt re­ported Thurs­day, claim­ing to have seen Brus­sels’ latest anal­y­sis of the debt bur­den.

Ac­cord­ing to the news­pa­per, the Com­mis­sion’s study pre­dicts Greece’s debt to grow to 196 per­cent of gross do­mes­tic prod­uct (GDP) in 2015 and to 201 per­cent of GDP in 2016.

The coun­try’s cur­rent debt bur­den stands at around 320 bil­lion eu­ros, or 170 per­cent of na­tional out­put.

Look­ing ahead, the study fore­casts the debt drop­ping to 175 per­cent of GDP in 2020 and around 122 per­cent by 2030, a level still higher that the 120 per­cent that the In­ter­na­tional Mon­e­tary Fund con­sid­ers a sus­tain­able debt limit, the pa­per said.

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