Greece may have exited the bailout program amid celebrations and promises that the country’s crisis-ridden economy is on the mend, however this might still be nothing more than wishful thinking at this point.
At least this is what can be deducted by the forecast of the global information company IHS Markit, which deemed that the growth rate of the economy is too slow to effectively lead to a reduction of public debt, which will remain high, expected to be 20 per cent higher than the target in 2030.
This date might seem too far ahead, but a full recovery of the economy might take even longer. According to the London-based company, Greece’s GDP will not return to its 2007 levels before 2040.
This forecast was supported by another report, presented last week in Athens. As reported in the Naftemporiki newspaper, economist Elisabeth Waelbroeck – Rocha presented the findings of a study that predicts a growth of just 1.7 per cent for 2019, which will drop to 1.4 for 2020-2030.
Both reports stressed the need for actions to speed up growth rate in the country.