1. EU to cut Greece 2017 growth forecast to 2 per cent: Official

EU to cut Greece 2017 growth forecast to 2 per cent: Official

The European Commission will revise down its growth forecast for Greece this year to around 2 percent from a previous 2.7 percent, an EU official said on Friday.

By: | Brussels | Published: May 5, 2017 3:26 PM
The European Commission will release its new forecasts on EU countries’ growth and macro-economic performances next week. (Reuters)

The European Commission will revise down its growth forecast for Greece this year to around 2 percent from a previous 2.7 percent, an EU official said on Friday. The European Commission will release its new forecasts on EU countries’ growth and macro-economic performances next week.

The official said the downward revision of the Greek growth forecast was mostly due to uncertainty caused by delays in concluding a new review of Greek reforms under a 86-billion-euro($94.3 billion) bailout.

A preliminary deal was reached this week among euro zone lenders and Greek authorities, which could pave the way for a new disbursement of loans to Athens in the coming weeks.

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