Greece Growth targets become even more elusive

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(The ekathimerini)

The Finance Ministry is increasingly leaning towards the forecast of the European Commission for a 3.5% growth rate of the Greek economy this year, as the current conditions with the extension of the strict lockdown in various parts of the country have rendered the budget target of 4.8% difficult to attain.

Finance Minister Christos Staikouras said on Tuesday that each month of strict restrictions shaves 0.8% from the gross domestic product’s growth rate and burdens the primary deficit by 0.7% of GDP, highlighting the heavy toll of the lockdown on the economy and the state budget.

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