Piraeus Bank: “Greece 2.0” approval “particularly positive”

The approval of the National Recovery and Resilience Plan “Greece 2.0” is characterized as a “particularly positive” developmen tin the July financial developments bulletin of Piraeus Bank .

As it is pointed out, “according to the EU, the Greek economy is expected to achieve a growth rate of 4.3% in 2021 and 6.0% in 2022 while the IMF makes more modest forecasts for growth of 3.3% in 2021 and 5.4 % in 2022 “, while reference is also made to the international rating agency Fitch, which estimates that the growth rate in 2021 will move to 4.3% and in 2022 will reach 5.3%.

At the forefront of international economic developments, Piraeus notes the ECB’s review of its monetary policy strategy by adopting 2% inflation as a symmetric basis. “The adoption of a loose monetary policy over a longer period of time becomes more likely with the revised strategy taking into account the weakness recorded in structural inflation in the Eurozone economy,” it said.

Finally, it pays close attention to the high level of inflation in the US economy.