Stournaras “confident” of at least 0.6% GDP growth in 2014

The Minister of Finances Yannis Stournaras is expecting the rate of recession to drop close to 1% GDP in the first quarter of 2014, which will confirm predictions…

The Minister of Finances Yannis Stournaras is expecting the rate of recession to drop close to 1% GDP in the first quarter of 2014, which will confirm predictions of returning to a positive growth rate later in the year.

An unnamed high-ranking Ministry officer told tovima.gr that if the -1% growth rate in confirmed, it will mark a 5-point difference from the -6% rate in 2013. This in turn will confirm the estimation of a 0.6% rate for the year.

On Thursday the Greek statistics authority ELSTAT is expected to publish data that will confirm the Finance Ministry’s plans and estimations. Some ministerial officers have optimistically suggested that the overall growth rate could raise to 1%.

The rate of recession in the final quarter of 2013 was 2.3% and it is estimated that Greece will return to positive growth rates in the second and third quarters of 2014, thanks in part to the increased tourist bookings (up 30.1%) in the first quarter of the year.

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