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Greece May Return to Growth in Mid 2016
World Economy

Greece May Return to Growth in Mid 2016

Greece is likely to return to economic growth around the middle of next year if the government makes a serious effort to regain financial stability, European Vice President for the euro Valdis Dombrovskis said, according to Reuters. After years of recession, Greece’s economy started growing again by 0.8% in 2014 and the European Commission expected it to expand by 2.5% this year, but a rejection of agreed reforms by the left-wing government of Alexis Tsipras plunged the country back into recession. “We were forecasting 2.5% growth in Greece this year, now we expect a 2.0-2.5% recession,” Dombrovskis told Reuters on the sidelines of the International Monetary Fund’s meetings in Lima.

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