The IMF on Friday released its forecast for the Greek economy during the current, and coronavirus-battered year, predicting a contraction by 9.5 percent, before recovering in the medium term.
The country will post a primary budget deficit of 6.75 percent, as a percentage of GDP, in 2020, caused by the pandemic's repercussions on the economy, especially the all-important tourism sector, and increased state spending towards affected businesses and their employees.
According to the IMF, "Greece's heavy reliance on tourism makes it particularly vulnerable. A rebound is expected in 2021–22 to reach an average 5% growth annually."
The report is found here:
https://www.imf.org/en/News/Articles/2020/10/02/mcs100220-greece-staff-concluding-statement-of-the-second-post-program-monitoring-mission
