Choose Language Top Menu Main Menu Extra Button Menu Page Contents Footer Search

Greece Macroeconomic Outlook 2016

Based on recent domestic developments and the progress in implementing the fiscal consolidation and structural reforms agenda agreed with official creditors, this report provides a detailed analysis of Greece’s macroeconomic outlook for 2016. On the economy’s short-term performance, our in-house econometric models for nowcasting Greek GDP signal a continuation of the domestic recession in Q4, with the respective range of year-on-year real growth estimates falling between -1.5% and -0.8%. Barring any major revisions in past GDP data, this would translate into a full-year contraction between -0.30% and -0.15% in 2015, with the respective carry over impacts into next year coming in between -1 and -0.5 percentage points.