High energy prices fuel uncertainty on fiscal front
Output and new orders drop to lowest since Mar 2021, forcing PMI down by 2.7 pts
Deposit rise of 1.3 bln in May led by corporates as household savings drop
Economic sentiment drops by 3.7 pts in June as all components deteriorate
Jan-May primary budget deficit contained at 1.49 bln on back of property tax, VAT intakes
Seasonal jobs account for 7 in 10 hirings as balance nears 100,000 in May
OECD expects Greek economy to recover, stresses need for structural reforms and debt relief
In its latest Economic Outlook report published on Monday, the Organisation for Economic Cooperation and Development said it expects a rebound in the Greek economy in the next two years supported by structural reforms, rising business and consumer confidence and stabilisation of the economic and political environment.
Private consumption is seen increasing by 0.8 percent in 2017 and 1.6 percent in 2018, while investments are forecast to grow by 4.3 and 4.6 percent in 2017 and 2018 respectively.
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