Consensus on further support

Greece's economy will end up among those hardest hit by the pandemic, according to the estimates of international organizations' recently published reports.

The European Union, the Organization for Economic Cooperation and Development and the International Monetary Fund agree that the structure of the Greek economy, with its great reliance on tourism and small and medium-sized enterprises, will be unable to avert a deep recession this year. They also express concern at the recurrence of Greece's perennial problems, such as its nonperforming bank loans.

As for the economic recovery, a multitude of questions and uncertainties overshadow the prospects for 2021, with the OECD, which on Tuesday published its Economic Outlook, expecting a near stagnant +0.9% growth rate next year and a major rebound in 2022 (+6.6%). This means that it will be more than two years before the...

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