Greece braces for recession, hopes to bounce back from summer onwards

Economy Tags: Coronavirus, Debt, GDP
Photo by Panayotis Tzamaros/Fosphotos
Photo by Panayotis Tzamaros/Fosphotos

The extent of the damage that could be inflicted on the Greek economy as a result of the coronavirus impact is becoming clearer by the day, with the Finance Ministry and leading investment houses now expecting Greece to slip into a recession again this year. The only question is how deep the contraction will be.

Speaking on television on Thursday morning, Finance Minister Christos Staikouras admitted that Greece is on course for an economic contraction of 1 to 3 pct this year due to the virus. He indicated that these figures would worsen if Covid-19 continues t...

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