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Low-productivity economy a legacy of adjustment without transformation
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BoG cautiously optimistic on economy and banking sector
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S&P leaves Greece's 'BBB' rating unchanged, hints at slower pace of upgrades
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Housing costs, food prices set limits to impact of tax cuts
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Moody's keeps rating unchanged at 'Baa3' - outlook stable
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Underspend and taxes push primary balance up to Aug 3.77 bln above target
BoG: Growth could be 2 pts lower than expected, inflation may reach 7 pct
In the governor’s annual report released on Thursday, the Bank of Greece (BoG) assesses the impact of the Ukraine conflict on Greek macro data, with the baseline scenario of growth now lower by one percentage point and inflation notably higher.
BoG presents two scenarios. The baseline sees growth of 3.8 pct, from 4.8 pct previously. The adverse scenario depends on the duration and extent of the conflict and its impact on energy and food prices. In this case, growth will be even lower, at 2.8 pct.
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