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Athens Macedonian News Agency: News in English, 14-02-16

Athens News Agency: News in English Directory - Previous Article - Next Article

From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

  • [01] Latest GDP figures a sign of economic recovery, finance ministry says

  • [01] Latest GDP figures a sign of economic recovery, finance ministry says

    ANA-MPA -- The latest non-seasonally adjusted GDP figures released by the independent statistical authority ELSTAT were greeted as a sign of a gradual return to economic growth, in an announcement released by the finance ministry on Friday.

    "The Greek economy is gradually emerging from the deep recession of recent years, while the conditions are being created, as forecast, for a return to growth within 2014," the announcement said.

    The ministry noted that the recession in 2013 was smaller than originally predicted (3.7 pct instead of 4 pct) and stressed that this was the first time this has happened since the start of the economic adjustment programme, while confirming the positive signs recently given by individual short-term qualitative and quantitative indicators.

    Greek economy shrank by 3.7 pct in 2013‏

    The Greek economy shrank by an average 3.7 pct in 2013, after a 2.6 pct decline in the country's Gross Domestic Product in the fourth quarter of 2013, Hellenic Statistical Authority said on Friday.

    The statistics service, in its first estimates, said that economic recession in 2013 was lower than initial estimates of a 4.0 pct decline in GDP, helped by a significant increase in tourism. On the other hand, private investments continued falling, while primary consumption shrank further in 2013.

    In current prices, the Greek GDP was 44.285 billion euros in the fourth quarter of 2013, losing 10.425 billion euros compared with the corresponding period in 2010 (when the first memorandum was introduced).

    The Greek economy had shrunk by 6.4 pct in 2012, while the Finance ministry expects the economy to grow by 0.6 pct this year.


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