Moody's upgrades Greece to 'Ba3' on back of reforms, warns of tricky period ahead
PMI rises to 50 points in September, signalling stabilisation
BoG sees 7.5 pct recession, EU funds boosting GDP by 1.9 pct annually
Greece draws strong interest, attractive yield by re-opening 10-year bond
Fitch keeps rating at 'BB', sees GDP contraction of 7.9 pct in 2020
OECD releases new outlook calling for sustained reforms post Covid-19
EC expects Greek GDP to drop by 9.7 pct for biggest fall in EU, before strong rebound in 2021
The European Commission released today its Spring Economic Forecasts, the first official set of numbers since the pandemic outbreak, which point to the EU economies experiencing “a recession of historic proportions this year.”
Euro area GDP is seen falling by 7.75 pct in 2020 and grow by 6.25 pct next year. The EU economy is expected contract by 7.5 pct and grow by 6 pct in 2021.
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