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Platon Monokroussos
Adjustment program success stories, investment opportunities & challenges lying ahead
Summary of views
- improvement in sentiment indicators increasingly reflected in hard economic data
- real GDP growth to shift into positive territory from Q3 2014 onwards
- upside risks to the troika forecasts for private consumption & imports growth
- tourism, energy, manufacturing (food processing), agriculture, retail & whole trade among the main growth drivers in the coming decade
Risks
- negative carry over from last year’s recession (-0.6ppts)
- still negative savings rate of households & huge disinvestment in the domestic economy
- supply-side constraints to domestic credit
- reforms fatigue and resistance from vested interests
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Greece Economic Outlook_EUROBANK 21 JULY 2014 (3)
