Hatzidakis: IMF Forecasts of a Deep Recession in Greece "to Be Expected"


Energy Minister Kostas Hatzidakis. (Photo: Eurokinissi/Giorgos Kontarinis)

ATHENS - Greek Environment and Energy Minister Kostis Hatzidakis on Wednesday said the International Monetary Fund's forecasts of a deep recession in Greece, Europe and worldwide were to be expected and added that there were also forecasts of a strong recovery in 2021. In comments made to Thema 104.6 radio station, Hatzidakis said the country was hit harder because of shipping and tourism and noted that the government was "saving its strength" for a possible new wave of the pandemic in autumn. "There are 7-8 sectors that are hardest hit and that's where we are focusing, such as tourism, transport - especially air travel - and heavy industry, including energy-consuming industries and thus the energy sector," the minister said.

Hatzidakis said there was an increase in household energy consumption and sharp decline in energy consumption in industry and commerce, adding: "Although it's too early to speak with any certainty over payments, the Public Power Corporation reported a 20 pct average decline in payment of electricity bills and that's alarming. We must be carefull because we are still in the beginning".