Greece Business Forecast Report Q3 2013 - New Study Released

From: Fast Market Research, Inc.
Published: Fri Jul 26 2013

The economic depression will linger in 2013 as deep fiscal retrenchment and internal devaluation take their toll.

The prospect of further spending cuts and tax hikes will ensure that demonstrations and national strikes remain a key feature of the political landscape over the medium term.

The current account deficit has collapsed faster than we had expected, raising the prospect of a return to surplus over the medium term. This is symbolic of Greece's transition towards a more balanced and sustainable economic growth model.

Major Forecast Changes

There are no major forecast changes this quarter.

Key Risks To Outlook

Full Report Details at

Upside Risks To Deficit Forecasts: The severity of the fiscal consolidation programme and the public backlash mean that the scope for slippage will remain pronounced.

Downside Risks To Economic Growth Forecasts: Should Greece decide to leave the eurozone, the recession would deepen in the short-to-medium term as the banking system would implode and the cost of energy and food imports would rocket.

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