Greek Finance Ministry Explains Difference in National and Commission Economic Forecasts

ATHENS – Greek Finance Ministry sources attributed the big divergence between the ministry's forecasts of a 4.7 pct economic contraction in 2020 (basic scenario) and a 7.9 pct contraction (adverse scenario) with a 9.7 pct contraction forecast made by the European Commission on Wednesday to two reasons: 1. The European Commision makes different forecasts for the time of reopening the economy and 2. It takes in view only part of the measures implemented and does not include the 7.0 billion euros liquidity offered by guarantee programs.


ATHENS - An Ecofin decision to incorporate the REPowerEU programme in an update of national Recovery and Resilience plans will allow the strengthening of strategic energy infrastructure which further enhances the national advantage of diversifying energy sources and routes, along with cross-border connections, boosting energy economy, environmental footprint and the country's regional role in the energy map, Greek Finance Minister Christos Staikouras said.

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