Good news were on the agenda on Friday, as better than expected results were announced for the Greek economy in Q1 2021.
Specifically, the recession in the first quarter of the year was measured at 2.3 percent, compared to the same trimester in 2020. Previous gloomy forecasts had the quarter’s GDP dropping by as much as 8 percent, yoy.
According to figures announced by the Greek statistics authority (EL.STAT), revised forecasts were issued for GDP results in the four quarters of 2020, although the overall figure for the previous year remained the same, namely, a reduction in GDP during the pandemic-battered year by 8.2 percent (based on seasonal revised data).
On a quarterly basis, economic growth of 4.4 percent was posted, compared to Q4 2020.
