Parliament’s Budget Office on Friday warned of an absence of figures and data that allow for conditions leading to a strong economic recovery in Greece.
The warning was expressed in the Office’s three-month report (Oct-Dec 2016) on the course of the Greek economy.
The independent Budget Office said that despite a forecast for a marginal increase in GDP over 2016, “only a courageous reform effort can create the proper economic, business and social climate and which forms the foundation for an upward course”.
Additionally, the report said ambitious growth targets for 2017 and 2018 are uncertain and linked to various cyclical and external factors.
In another very timely intervention the Budget Office said the Greek economy will be sorely tested, as the impasse in negotiations between Athens and its institutional creditors “will have negative repercussions, if it (impasse) is not overcome quickly”.
