Alpha Bank reports Greek economy on recovery path

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According to data released last week by Alpha Bank, the Greek economy appears to be on a path to recovery.

The bank’s weekly economic bulletin examined indicators for the third and fourth quarters if the year which indicate an overall growth trend.

In tourism, receipts and the number of arrivals are expected to maintain the momentum achieved in the first half of the year and most likely increase in Q3 with a direct impact on exports of services and private consumption, which also recorded a rise in retail turnover by 2.5 percent year-on-year in Q2 of 2017.

Meanwhile, consumer confidence also appears to be improving despite remaining low. The completion, meanwhile, of Greece’s negotiations for the second assessment of its third bailout with its international lenders led to an improved economic climate in July and August with the relative index at 98.6 units from 94 in the second quarter of 2017.

According to Alpha Bank another indicator of growth includes the government’s acceleration of its privatisation program set to facilitate investments, the launch of a debt settlement program expected to stimulate liquidity, and the strengthening of export activity of enterprises in the manufacturing sector.

GCT Team

This article was researched and written by a GCT team member.