Greek economy expected to grow 2.4 pct in 2020, says Commission report

The European Commission is forecasting a bigger growth for the Greek economy in 2019, a modest growth for 2020, and stable in 2021, based on its report released Thursday.

Real GDP in Greece is forecast to reach 2.4 percent in 2020 (compared with a previous forecast for 2.3 pct) and 2.0 percent in 2021.

The Greek economy is estimated to have grown by 2.2 percent in 2019 (versus an initial forecast of 1.8 pct last fall) and is expected to grow at or above 2 percent over the forecast horizon, "provided that reforms efforts continue to be implemented," the Commission said.

At a press conference presenting the new forecasts, the EU's Commissioner for Economy Paolo Gentiloni said he expects the current assessment of the Greek economy in the context of post-bailout monitoring will be positive, "paving the way for a positive Eurogroup decision in June to allow Greece...