PwC this week said Greece needs a whopping 268 billion euros in capital by 2020 to fund all types of investment in business, infrastructure, property purchases and the agricultural sector.
Nevertheless, the international accounting and professional services company added that roughly 155 billion euros out of the 268-billion-euro figure is missing.
In echoing the controversial forecast revealed by the IMF this week for the Greek economy, which extends four decades into the future, a PwC report concludes that current conditions point to an anemic recovery, with a lack of credit and capital cited as among the primary reasons.
According to PwC, Greece remains locked in a vicious cycle of credit inadequacy, which has negatively affected its competitiveness, and with whatever economic recovery on the horizon burdened by a shortage of capital investment.
In fact, the multinational auditing firm referred to a “recovery” that lacks financing, given the absence of bank credit.
