BoG sees 4.2% recovery in 2021, re-emphasises need for bad bank

Economy Tags: BoG, GDP, NPLs
Photo by MacroPolis
Photo by MacroPolis

In the governor’s annual report issued on Tuesday, the Bank of Greece maintains its rather positive stance on the Greek economy, while it highlighted the challenges faced by the country’s banking sector. 

Despite the heavy economic contraction of 8.2 pct last year, the economy showed resilience according to BoG. It was largely assisted by the accommodative fiscal stance and unprecedented fiscal support, which reached last year 11.2 pct of GDP.

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