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2020-03-27  11:23

CIJ News iDesk VII

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Greek economy could slip 3% in 2020

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Greek Finance Minister Christos Staikouras said that the country's economy is expected to shrink by up to 3 percent in 2020 due to the coronavirus crisis. He said he expected the impact to be milder than other countries in the eurozone, but warned that any assessment could change depending on how long the crisis lasts. "Greece was doing extremely well until February. Obviously, it is a completely different Greece from two months ago," Staikouras said. However, the eventual recovery of economic activity in 2021 is expected to be sharp, he added. Last week, Greece’s central bank slashed growth projections for the economy to 0 percent from a previously estimated 2.4 percent this year due to the impact of the coronavirus epidemic.

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