IMF: Greek economy expected to grow by 6.5% this year

IMF Greek public debt

The Greek economy is expected to grow by 6.5% this year and 4.6% in 2022, the International Monetary Fund said on Tuesday.

In its global economic outlook report, the IMF expects the inflation rate to reach 1.3% at the end of the year and to fall to 0.4% on average in 2022.

The unemployment rate is projected to fall to 15.8% this year and to 14.6% in 2022 from 16.4% in 2020, while the current account deficit is expected to fall from 7.1% of GDP this year to 5.1% in 2022.

The Fund slightly lowered its estimate for the global economy to a growth rate of 5.9% from 6.0%, while the forecast for 2022 remained unchanged at 4.9%.

The IMF revised upwards its estimate for the Eurozone, for a growth rate of 5% (from 4.6% in July) this year and 4.3% in 2022 (unchanged).

The Fund noted, however, that its forecasts were made in an environment of great uncertainty and stressed that main priority is to deal with imbalances in the global economy, and more particularly supporting poorest countries, promoting vaccination and deal with poor countries' debt.