BoG sees 7.5 pct recession, EU funds boosting GDP by 1.9 pct annually

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BoG sees 7.5 pct recession, EU funds boosting GDP by 1.9 pct annually

Economy 23/09/2020 - 11:20 Tags: Banking, BoG, Covid, GDP

Speaking at an online event organised by a local think-tank, Bank of Greece governor Yannis Stournaras presented the central bank’s updated estimates regarding the impact of the pandemic on the economy.

Stournaras also outlined the potential benefits from the EU’s response to the crisis through the Next Generation EU funding and reiterated his view that another systemic solution is needed to help banks deal with the bad loans challenge.

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