• Barely out of crisis, Greek economy hammered by new lockdown

    5 days ago - By Chron

    Greece has downgraded its forecasts for the economy this year to include the impact of a second lockdown, and says the national debt is now expected to exceed 200% of annual output.
    The Finance Ministry on Friday said that it expects the economy to contract by 10.5% in 2020 and rebound by a modest 4.8% next year, according to figures presented in the 2021 Budget to parliament.
    The estimates were revised from an 8.2% drop and 7.5% bounce back forecast in a draft budget submission last month.
    The government imposed a second lockdown nationwide on Nov. 7, expanding regional restrictions...
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