We expect a return to positive economic growth in 2014 following six years of depression.
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 Risk To Outlook
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.
Full Report Details at
- http://www.fastmr.com/prod/694756_greece_business_forecast_report_q4_2013.aspx?afid=302
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"Greece Business Forecast Report Q4 2013" is now available at Fast Market Research
Company: Fast Market Research, Inc.
Contact Name: Bill Thompson
Contact Email: press@fastmr.com
Contact Phone: 1-413-485-7001
Contact Name: Bill Thompson
Contact Email: press@fastmr.com
Contact Phone: 1-413-485-7001