PBO highlights pandemic impact on economy, sees 2020 recession of 8.5 to 9.4 pct

EconomyMacroeconomy Tags: Covid, PBO
Photo by MacroPolis
Photo by MacroPolis

Greece’s Parliamentary Budget Office (PBO) issued its Q2 2020 report in which it takes stock of the state of the economy and the impact the pandemic, as well as the lockdown measures had on economic activity between April and June.

The PBO notes that the annual drop of 15.2 pct that ELSTAT announced recently for Q2 2020 was deeper than its own estimate from April of -13.7 pct. Combined with the small recession of the first quarter, this signals that the impact on the economy is sh...

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