The International Monetary Fund (IMF) has revised its forecast for the growth of the Greek economy in its latest report by a significant increase, forecasting a growth rate of 2.4% for 2019.
The IMF had originally estimated growth of + 0.6%, as of April 2018, but now added another 1.8% to the growth rate.
The forecast is included in the World Economic Outlook IMF report presented today by the Chief Financial Officer of the Morris Ombstheld Fund at the Annual Session of the Organisation in Bali, Indonesia.
According to the report, the Greek economy is expected to grow by 2% this year and by 2.4% in 2019. In the medium term, the Fund estimates that GDP growth will be 1.2% against the 1.9% estimated in its spring forecasts.
However, the Fund is revising its global growth forecast, which is now downgrading from 3.9% to 3.7% for the period 2018-2019.
For Greece’s current account deficit, the IMF predicts that it will grow to 0.8% of GDP this year, while for 2019 it sees an increase in the current account deficit, estimated at 0.4% of GDP.
In addition, the IMF estimates that the unemployment rate will fall by 1.6% this year from 2017 (21.5%) to 19.9% %, while in 2019 it estimates that the percentage will fall further to 18.1%.
For inflation, the IMF estimates it will fluctuate to 0.7% for 2018, while for the year 2019 an increase of 1.2% is expected.