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IMF: Growth of 3.3% this year for Greece & jump to 5.4% for 2022

It describes Greece’s response to the pandemic as timely & effective which made the economy remarkably resilient with positive prospects

The International Monetary Fund (IMF) forecasts a growth rate of 3.3% for this year and 5.4% for 2022 in its Report on the Greek economy in the context of the regular audit carried out in all member states (Article IV).

The IMF notes that despite the pandemic, reforms have continued in several areas, albeit at a slower pace than in the recent past. It describes Greece’s response to the pandemic as timely & effective which made the economy remarkably resilient with positive prospects.

It is noted that in April the IMF in its Report (World Economic Outlook) predicted that this year the Greek economy will grow at a rate of 3.8% after the decline of GDP by 8.2% in 2020.

For the Public Debt, the IMF estimates that in the medium term it will decrease, after reaching its peak in 2021. Therefore for the IMF, the Public Debt remains viable in the medium term. However, the great uncertainties that prevail do not allow the Fund to decide on its long-term viability.

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