Draft budget sees 2020 growth at 2.8 pct, unemployment down to 15.6 pct

The Finance Ministry’s 2020 draft budget, which will be tabled in Parliament on Monday, foresees the Greek economy growing by 2 percent this year and 2.8 percent in 2020, the Hellenic Fiscal Council has said in a report endorsing the Finance Ministry’s projections.

According to the report, the 2020 draft budget also foresees Greece meeting the primary surplus target of 3.5 percent of gross domestic product, as well as a contraction of unemployment from 17.4 percent today to 15.6 percent.

The HFC said it considers the 2 percent growth forecast for 2019 as “optimistic but feasible,” while the 2.8 percent target for the following year is “particularly demanding… but also attainable” if this year’s performance it on target.

The course of private consumption and investments will determine the growth rate for 2020, the HFC added, saying that the former is seen growing by 1.8 percent and the latter by 13.4 percent against 8.8 percent this year.