Fiscal risks mount as economy heads | Eurobank
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Fiscal risks mount as economy heads

Domestic economic activity is expected to decelerate further this year, weighed down by tighter credit conditions and a significant deterioration in global growth dynamics. We now forecast real GDP growth to contract by 1.0% YoY in 2009, mainly as a result of lower investment spending and rapidly decelerating, though still marginally positive, consumer-spending growth.