Greece’s economy remained stagnant during the 2014-2016 period with the real change in GDP being a meager +0.02 percent, according to Eurobank’s weekly economic bulletin.
The bulletin cites both the revision, by the statistics authority, of GDP figures for all three years, with 2016 – as announced last week – actually closing with a 0.2-percent downturn.
However, 2014’s figures were revised upwards, as GDP growth reached 0.7 percent from the previous 0.4 percent. The year was also unique in recording a tangible economic recovery after recession between 2007 and 2013.
Based on economic results for the first two quarters of 2017 and high frequency indices for the third quarter, the current year is expected to mark the “beginning of the exit” from cycle of stagnation asphyxiating the economy over the past few years.
