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Industrial turnover drops by 16.2 pct in July as manufacturing slows
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Unemployment edges up to 16.7 pct in Q2 as tourism jobs dry up
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Primary cash deficit at 5.78 bln in August
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Budget primary shows deficit of 6.61 bln in August
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Overdue social security contributions rise to 37 bln in Q2
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PBO highlights pandemic impact on economy, sees 2020 recession of 8.5 to 9.4 pct
IMF sees 2020 GDP contraction at 10 pct, budget deficit at 9 pct due to virus impact
The IMF released on Tuesday its latest economic estimates in the context of the World Economic Outlook, which has incorporated the impact of what it calls The Great Lockdown that sees global GDP dropping by 3 pct in 2020, subject to various uncertainties.
The Fund joins the list of organisations and investment houses that see the pandemic having a severe effect on the Greek economy, extracting a double-digit toll on economic activity. The forecast on contraction for this year is at -10 pct.
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