Citi: The recovery in Greece will start in 2015
Citi: The recovery in Greece will start in 2015
Believes that the Greek government will use part of the primary surplus to aid the economy
In its report on the global economy Citi keeps its pessimistic tone about the economic outlook of Greece. Analysts predict a return of GDP in positive territory just at the end of the year, which means that GDP will fall by 0.9% in 2014 compared to official forecasts (government, troika) for an increase by 0.6% and an end to its downward trend.
The group's analysts upgraded their estimates for 2015 and now expect a GDP growth of 0.8% compared to the previous estimate of 0.4%, as they feel the Greek government will use part of the primary surplus to aid the economy, but mainly to maintain the political support it now enjoys.
The group's analysts upgraded their estimates for 2015 and now expect a GDP growth of 0.8% compared to the previous estimate of 0.4%, as they feel the Greek government will use part of the primary surplus to aid the economy, but mainly to maintain the political support it now enjoys.
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