Author Topic: 16/05/14  (Read 852 times)

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Offline Maik

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16/05/14
« on: Friday, 16 May, 2014 @ 22:56:06 »
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Greece: "Recession has ended", Ministry of Finances claims

Greek statistics authority Elstat announced yesterday that the rate of recession during the first quarter of 2014 was 1.1% GDP, which is a significant improvement from the 6% rate last year as daily To Vima online reported.

This has confirmed the Ministry of Finances' belief that the 1% rate of recession suggests that the recession has come to an end. Additionally, the Ministry of Finances expects a 0.6% growth rate for the rest of the year. The Finance Ministry has based its optimism on its tourism expectations, which also suggest that there will be a significant increase of tourist traffic in the second and third quarters of the year.
http://www.ansamed.info/ansamed/en/news/sections/economics/2014/05/16/greece-recession-has-ended-ministry-of-finances-claims_e8846ccd-8a49-45e9-bd21-33eabec1c73b.html


A Finance Ministry with a sense of humour!