Government optimism over GDP outlook

Against the dramatic forecasts for fiscal figures to slump to levels reminiscent of the worst years of the debt crisis, there is also optimism within the government that things will actually turn out to be rather better. In any case Athens' objective is to implement policy measures for sustained support of the companies hurt and to eventually bring the country out of lockdown and restart of the economy.

That requires strengthening growth for a swift recovery in 2021 and the containment of the fiscal derailment to a manageable degree. The country, government officials note, should remain able to access the market at a reasonable cost of borrowing.

The International Monetary Fund has forecast that the gross domestic product will decline by 10 percent this year, with a recovery of 5.1 percent in 2021. In the worst year of the debt crisis, 2011, the economy shrank 9.1...