EC sees resilience in Greek economy, urges additional measures in 2016 and 2017

Economy Tags: Debt, EC, GDP, Unemployment
Photo by Sebastien Bertrand via Flickr https://flic.kr/p/7ZRenG
Photo by Sebastien Bertrand via Flickr https://flic.kr/p/7ZRenG

In its winter economic forecasts published on Thursday, the European Commission (EC) aligned its GDP estimates with those incorporated in Greece’s 2016 budget calling for GDP growth in 2015 and contraction of 0.7 percent in 2016.

In contrast, upside risks could stem from revenue administration reforms, which are not incorporated in current forecasts, and revenue buoyancy on the back of the overall resilience of macro and tax collection figures in the second half of 2015.

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