Economy

xchrom

(108,903 posts)

12. Greek economy to shrink for seventh year, OECD says

Thu Nov 28, 2013, 10:14 AM

Nov 2013

http://www.bbc.co.uk/news/business-25118477

The Greek economy will keep shrinking next year and may need more financial help, the Organisation for Economic Co-operation and Development (OECD) says.

The OECD's forecast of 0.4% contraction contrasts with the Greek government's prediction of 0.6% growth in 2014.

The OECD also said the recession in Greece had been "much deeper than expected" and that debt would not fall below 160% of GDP before 2020.

It would mark the seventh consecutive year of recession for Greece.

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