Greece expects economic growth

Greek Parliament is expecting a “final exit” to its almost 10-year long economic crisis.

© Greek Parliament at Flickr

The Greek government has projected a 2.7% economic growth in the coming year, halting the country’s financial crisis for almost a decade now.

According to Prime Minister Alexis Tsiparis, as reported by the Good News Network, the 2017 budget will add 1 billion euros to taxes on phone calls and alcohol while spending will be cut by over 1 billion euros.

The revenue targets had been surpassed twice in 2016 and this economic milestone could mark Greece’s return to economic stability. “Indeed, in the third quarter, recorded growth in gross domestic product of 1.8% of GDP, the largest since the beginning of the crisis,” he said.

In the same report, Euclid Tsakalotos, the Greek Finance Minister, also highlighted the improvement in unemployment, stating that it has been reduced from 27% to 23%. It is expected to fall even further by the coming year.

The Alternate Minister of Finance, George Chouliarakis stressed that issues concerning market and financial sector reforms, health, education, and tax collections have also been agreed upon with the country’s creditors.

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