NBG analysts revise forecast for GDP growth in Greece, to 5.7% for 2021

Friday, 11 June 2021 22:09
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The latest economic bulletin by the National Bank of Greece (NBG) features a revised, upwards, forecast for GDP growth in Greece for 2021, with the oldest financial institution in the country pointing to a 5.7-percent growth rate.

The more positive forecast comes after a better-than-expected result for Q1 2021, with the recession coming in at -2.3 percent.

In the bulletin, NBG analysts point to a noteworthy resilience on the part of the Greek economy, mainly due to strict pandemic-related restrictions in the first trimester of the year.

The GDP rate grew by 4.4 percent, if compared with the last quarter of 2020 (based on seasonally modified data), but only down 2.3 percent compared with the corresponding quarter of 2020, before the lockdown due to the Covid-19 outbreak.

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