World Economy

Tsipras: Growth to Reach 2%

Tsipras: Growth  to Reach 2%Tsipras: Growth  to Reach 2%

Greece’s economic growth rate will be close to 2% this year, slightly above the government’s revised projection, Prime Minister Alexis Tsipras said on Tuesday, Reuters reported. The crisis-hit country concluded a crucial bailout review in June and returned to bond markets for the first time in three years in July. How its economy fares is crucial as its third, €86 billion ($103.5 billion) bailout expires in 2018. Athens had projected that the economy would expand by 1.8% this year, revising downwards a previous 2.7% forecast. “The projections that 2017 will end with growth rates close to 2% will be confirmed,” Tsipras said, adding that unemployment, which now stands at 21.7%, was set to fall below 20% next year. A new state development bank aimed at funding small and medium-sized businesses will be operational in the first quarter of 2018, Tsipras said.


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