ΙΜF forecasts for Greece unchanged; a 3.3% GDP hike in 2021, 5.4% in 2022

The IMF’s forecasts for the Greek economy remained unchanged in the latest report unveiled by the Fund this week, namely, a 3.3-percent GDP hike this year and 5.4 percent in 2022.

The IMF report also notes that Greece entered into the pandemic with a still incomplete recovery, but nevertheless showed resilience in dealing with its consequences.

Additionally, the IMF states that the Greek government provided one of the biggest financial support packages to affected businesses and individuals among Eurozone countries.

Regarding the country’s public debt, the IMF noted that it remains sustainable in the mid-term, forecasting that after reaching a summit of 214 percent of GDP it will ease to 169 percent of GDP by 2030.

In a related item, the Fund announced that its Executive Board on Friday concluded the Article IV consultation with Greece and endorsed a staff appraisal on July 9 without a meeting on a lapse-of-time basis.

The press release by the IMF is here .