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

By: | Published: May 5, 2017 3:26 PM

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. (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.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition