The recession in 2011 was in fact even deeper than previously thought, as revised data released on Friday by the Hellenic Statistical Authority (Elstat) showed that the country's economy shrank by 7.1% in real prices on an annual basis. The previous ELSTAT calculation had been for a 6.9% contraction. Greece's gross domestic product came to 206.4 billion euros last year. In 2010, GDP had amounted to 222.2 billion euros. The change, as daily Kathimerini reports, was made in the context of the revision of the GDP figures for the period 2006 to 2011, taking into account the definitive data for economic indices for those years. The greater decline in last year's GDP means the targets for the 2013 draft budget that was tabled in Parliament on Monday will have to be revised. This first draft sees Greece's gross domestic product shrinking to 200.9 billion euros this year and to 193 billion in 2013. Once the revised figures for 2011 are factored in, the estimates will also drop further, rendering the picture of the country's economy even bleaker than before.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor