After years of gruelling, austerity-driven recession, Greece has forecast economic growth in 2017, in what would be its first annual rebound in seven years. Insiders said Greece would easily meet its bailout goal of achieving a surplus – excluding debt-servicing costs – of 0.5% GDP this year. Its draft budget is projecting a 1.75% surplus for next year in line with last summer’s €86bn (£74bn) rescue programme. But private-sector economists derided the optimism as yet another attempt by a Greek government to project a narrative of success. The inclusion of Greece in the European Central Bank’s quantitative easing stimulus programme, will, he says, play a pivotal role in allowing Greece to re-enter capital markets.

Source: The Guardian October 02, 2016 18:17 UTC