Great Recession in Europe

Forty-five billion euros from EU fund could raise Greece to next level

The next five years could prove pivotal for the Greek economy as the government seeks via its National Recovery and Sustainability Plan to utilize resources from the European Union's Recovery Fund amounting to 32 billion euros - which could reach €45 billion together with private funds - and power the country's GDP to a new level.

Greek economy shrinks in first quarter, contraction deepens

Greece's economy contracted in January-to-March compared to last year's fourth quarter, the country's statistics service (ELSTAT) said on Thursday.

The seasonally adjusted data showed gross domestic product shrank 1.6 percent in the first quarter, at a faster pace compared to a 0.7 percent contraction in October-to-December.

FinMinCitu: The 3.3 billion euro loan gives us comfort of financing all expenditure foreseen in budget

We have gone out on the international markets and the interest in Romania has been almost 14 billion euros, of which we have chosen to borrow 3.3 billion euros, the Public Finance Minister Florin Citu said after the government meeting on Wednesday. He specified that the loan offered the possibility of financing expenditure from the budget without any problems.

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