Greek economy seen surging this year, but not as much as government, creditors say

Greece's economy will accelerate at a far faster rate this year than last, ending an eight-year nightmare of recession or stagnation but still performing less well than the government and its creditors project, the IOBE think tank said on Thursday.

In a quarterly economic review, the Foundation for Economic and Industrial Research said Greek gross domestic product would grow by 1.5 to 1.8 percent in 2017.

While this is slightly less than a previous 1.5 to 2.0 percent forecast, it is far higher than IOBE's new estimate of 0.4 percent growth last year, a significant upward revision from October's estimate of a 0.5 percent contraction.

It also contrasts strongly with the deep recession that ran from 2008 to 2015 with only a miniscule growth blip in 2014.

The IOBE's 2017 forecast, however, is for much less growth than the more upbeat view taken by the government...

Continue reading on: