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Greece on the road to recovery

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Platon Monokroussos

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

Viewers can log on on the PDF herebelow for a full read and comment:

Greece Economic Outlook_EUROBANK 21 JULY 2014 (3)

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