IOBE sees growth at 4%-4.3%

The economy will grow by 4%-4.3% this year, according to the baseline scenario of the Foundation for Economic and Industrial Research (IOBE), undercutting the more optimistic forecasts for a 4.8% expansion by the government, 5% by the European Commission and 5.7% by the International Monetary Fund.

In its quarterly report presented on Thursday, IOBE also included two alternative scenarios, with the favorable one pointing to growth of 5%-5.3% and an adverse one that only sees a 0.5%-1% rise - this last one matches the scenario of the Organization for Economic Cooperation and Development, which projects growth at 0.9% this year.

Although the baseline scenario is the most likely, IOBE Director General Nikos Vettas said yesterday that "none of them can be ruled out."

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