Commission: Projected Greek growth rate for 2018 revised slightly downwards
The 2019 growth projection is 2.3 percent, compared to a prior projection of 2.5 percent for both 2018 and 2019
The European Commission has revised downward its projection for Greece’s 2018 growth rate.
According to the Commssion’s spring forecast, the 2018 growth rate will be 1.9 percent of GDP, while for 2018 it was 1.4 percent, the first time since 2007 that growth exceeded one percent.
The 2019 growth projection is 2.3 percent, compared to a prior projection of 2.5 percent for both 2018 and 2019.
Projections on unemployment were better than expected, as it is expected to reach 20.1 percent in 2018 (compared to a prediction of 20.4 percent last autumn), and 18.4 percent in 2019 (18.7 percent was the autumn projection).
In 2017, the unemployment rate was 21.5 percent, and employment is expected to rise by 1.7 percentage points in 2018, and by 1.8 percentage points in 2019.
Investment is expected to increase by 10.3 percentage points in 2018 (compared to an autumn projection of 11.5 percentage points), and 12.1 percentage points in 2019.
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