Think-tank downwardly revises 2015 Greek growth forecast to 1%

Greece's IOBE think-tank revised down its growth forecast for the country this year, citing rising uncertainty due to Athens' prolonged negotiations with its European Union and IMF lenders. 

PHOTO: AFP

21 Apr6:50 PM

[ATHENS] Greece's IOBE think-tank revised down its growth forecast for the country this year, citing rising uncertainty due to Athens' prolonged negotiations with its European Union and IMF lenders.

IOBE projected the economy will expand by 1.0 this year, down from its forecast for 2.3 per cent in January. The government forecasts growth of 1.4 per cent.

"The prolonged and fluctuating negotiations between the new government and its lenders, without clear signs for the time-being over their outcome, have pushed political uncertainty within and outside the country to its peak," IOBE said.

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