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Greek cenbank cuts 2017 growth forecast, urges EU to specify debt relief
June 30, 2017 / 10:33 AM / 3 months ago

Greek cenbank cuts 2017 growth forecast, urges EU to specify debt relief

ATHENS, June 30 (Reuters) - Greece’s central bank on Friday cut its growth projections for the crisis-hit country to 1.6 percent this year on the back of delays in concluding a reform review by lenders for bailout funds.

It had previously forecast that Greece could attain growth of 2.5 percent this year. In its monetary policy report, the Bank of Greece also said the medium term growth outlook remained favourable but was conditional “on the continued smooth implementation of reforms.”

The Bank of Greece urged the country’s European lenders to further specify the debt relief measures to be implemented in 2018. It warned that should that drag on, Greece may need a new bailout after its current programme ends in 2018. (Reporting by Lefteris Papadimas, Renee Maltezou)

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