V-shaped recovery for the Greek economy

According to Greek bankers and prominent economists, the growth rate in 2021 will eventually come to 8.5%, after a 9% plunge in 2020.

The rebound is impressive, Panagiotis Liargovas, chairman of the board of directors and scientific director of the Center of Planning and Economic Research, a leading research institute, told Xinhua.

Noting that exports and investment grew by 40% and 18.2% respectively in a year, Liargovas said: “This is very promising because it gives the signal that the growth model of Greece has started to change and be based on external factors like exports and investment rather than consumption. And I think it gives good prospects for 2022 and 2023.”

“It was a really nice surprise for Greece. For the first time, Greece presents the highest rate of growth in the eurozone,” added Panagiotis Petrakis, a professor in the Department of Economics at the National and Kapodistrian University of Athens.

Greece is experiencing a V-shaped recovery, according to the two professors. [Xinhua]