Greek FinMin: GDP Figures Better Than Expected

ATHENS – The Greek economy, although it was shaken strongly, showed resilience in conditions of unprecedented health, social and economic adversity, Finance Minister Christos Staikouras said in comments on the GDP data for Greece released by Hellenic Statistical Authority on Friday.

Staikouras said the GDP contraction rate was less than the forecasts because of the revision of the previous quarter and the good performance in the fourth quarter, which compared with the third quarter of 2020 seemed to be the best performance in Europe. "These figures certify the correctness of our economic policy," Staikouras said, adding that 2021 is a difficult year. "The challenges are many and great, but we can be realistically optimistic since, with the help of science, we are erecting a protective wall through vaccinations and moving towards a return to normality in social and economic life," he noted.

"In these conditions, with efficient, socially sensitive and fair economic policies, along with the anticipated start of money inflow from the Recovery Fund, we will work to counteract the repercussions of the crisis. We continue, with faith in the country's outlook, responsibility towards all citizens, a plan, hard work, calm and justice, so that all together, state, citizens and enterprises recover as fast as possible and lay the foundations for a high, sustainable, smart and socially fair growth," the FinMin said.


ATHENS - Fitch Ratings on Tuesday upgraded Greece's four systemic banks ratings, following a recent round of upgrades of Greece's credit rating.

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