KEPE: Greek GDP to grow by an average rate of 0.6 pct in 2014
Greece's annual average growth rate of real GDP this year is estimated to reach 0.6 percent, reports ANA-MPA according to the Centre of Planning and Economic Research (KEPE).
In a report on short-term outlook of Greek GDP, the research institution said that this estimate "confirmed a previous forecast that 2014 will become a transition year from a long-term recession - which lasted six years - to growth.
This confirmation reflects stabilising conditions prevailing in the Greek economy, as a result of a gradual introduction of fiscal discipline, the implementation of a series of crucial structural reforms and a progressive return to normal operations of the domestic financial sector".
An estimated rise in real GDP this year could expand further based on a more favorable course of exports, a return to positive growth rates of investments and a gradual improvement in the labour market, the report added.
On the other hand, KEPE said that adverse conditions could emerge from geopolitical developments, such as the Ukraine crisis and hostilities in the Middle East, while domestic developments could delay structural reforms, undermining fiscal discipline, higher liquidity in the market and political stability in the country.
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