Arab Today, arab today greek economy shrinks 62 in second quarter
Last Updated : GMT 06:27:20
Arab Today, arab today
Arab Today, arab today

Greek economy shrinks 6.2% in second quarter

Arab Today, arab today

Arab Today, arab today Greek economy shrinks 6.2% in second quarter

Athens - AFP

The Greek economy, struggling in a fifth year of recession, shrank 6.2 percent in the second quarter compared with a year earlier, official data showed on Monday. The economy contracted 6.5 percent in the first quarter, worse than the initially given 6.2 percent, according to revised figures issued in June. The Bank of Greece expects the economy to shrink 4.5 percent for 2012 as a whole, following a 6.9 percent drop last year. The country is relying on two financial rescue packages backed by the EU, the International Monetary Fund and the European Central Bank worth around 240 billion euros ($295 billion) for its economic survival. Last year, private creditors agreed to write-off more than 100 billion euros in debt, roughly half the amount they were owed, as part of a second bailout programme. Harsh austerity measures and economic reforms linked to the aid agreements have taken their toll on the economy, with unemployment hitting record highs. The conservative-led coalition government has yet to finalise spending cuts of about 11.5 billion euros ($14 billion) in order to unlock its next aid installment worth some 31 billion euros.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today greek economy shrinks 62 in second quarter Arab Today, arab today greek economy shrinks 62 in second quarter

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today greek economy shrinks 62 in second quarter Arab Today, arab today greek economy shrinks 62 in second quarter

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today How to do your own Ramadan corner?

GMT 15:53 2017 Saturday ,27 May

How to do your own Ramadan corner?
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday