March 26, 2020 / 7:41 AM / 8 days ago

Greek economy to contract by 1-3% this year - finance minister

Greek Finance Minister Christos Staikouras pauses during an interview with Reuters at his office in the Finance Ministry in Athens, Greece, December 17, 2019. REUTERS/Costas Baltas/Files

ATHENS (Reuters) - Greece estimates a contraction to its economy at between 1 and 3% this year from the impact of coronavirus which has brought economic activity to a virtual standstill, its finance minister said on Thursday.

Christos Staikouras said he expected the impact to be milder than other euro zone countries, but said any estimates were tempered by how long the coronavirus crisis would last. A recovery in economic activity in 2021 was expected to be sharp, Staikouras told Greece’s Skai TV.

Reporting by Michele Kambas

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