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Primary cash balance deficit at 3.91 bln in March
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Budget primary deficit at 3.42 bln in March, above target by 941 mln
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Wages index up by 4.5 pct YoY in Q4 2020, rises by 3.1 pct QoQ
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New tax debt at 1.63 bln February, rising by 1.03 bln month-on-month
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Building permits increase by 6.4 pct in January
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CPI down by 1.6% in March, marking 12-month continuous drop
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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