AFP, Athens :
The Greek economy grew by a slim 0.4 percent in the first three months of 2017, official data showed Friday, revising a contraction of 0.1 percent reported in May.
“In the first quarter of 2017 (output) in volume terms increased by 0.4
percent in comparison with the fourth quarter of 2016, against the decrease of
0.1 percent that was announced for the flash estimate on May 15,” the state statistics agency said.
The figures come at a time when Athens is once again locked in crucial debt talks with the International Monetary Fund (IMF) and the European Union for its crisis-battered economy.
There was no agreement at a May 22 meeting of eurozone finance ministers on measures to lighten Greece’s debt, and another attempt will be made on June 15.
There are deep divisions between European creditors led by Germany, and the IMF, which believes that the Europeans’ expectations of Greece’s economic performance are too ambitious.
The disagreement has held up the next tranche of aid from Europe from the third, 86-billion-euro ($97 billion) aid deal Greece and its creditors secured in July 2015.
Greece needs the funds to repay seven billion euros in maturing debt in July.
In May, the government lowered the GDP growth target for 2017 to 1.8 percent from a previous estimate of 2.7 percent.
The Greek economy grew by a slim 0.4 percent in the first three months of 2017, official data showed Friday, revising a contraction of 0.1 percent reported in May.
“In the first quarter of 2017 (output) in volume terms increased by 0.4
percent in comparison with the fourth quarter of 2016, against the decrease of
0.1 percent that was announced for the flash estimate on May 15,” the state statistics agency said.
The figures come at a time when Athens is once again locked in crucial debt talks with the International Monetary Fund (IMF) and the European Union for its crisis-battered economy.
There was no agreement at a May 22 meeting of eurozone finance ministers on measures to lighten Greece’s debt, and another attempt will be made on June 15.
There are deep divisions between European creditors led by Germany, and the IMF, which believes that the Europeans’ expectations of Greece’s economic performance are too ambitious.
The disagreement has held up the next tranche of aid from Europe from the third, 86-billion-euro ($97 billion) aid deal Greece and its creditors secured in July 2015.
Greece needs the funds to repay seven billion euros in maturing debt in July.
In May, the government lowered the GDP growth target for 2017 to 1.8 percent from a previous estimate of 2.7 percent.
