July 9, 2020 / 11:07 AM / a month ago

Greek economy to shrink by 7.5-10.5% this year - IOBE

ATHENS, July 9 (Reuters) - Greece’s economy will contract by 7.5% this year under a baseline scenario and at a faster pace of 10.5% under an adverse one, due to the impact of COVID-19, the country’s influential think tank IOBE said on Thursday.

In its quarterly report, the Foundation of Economic and Industrial Research (IOBE) also projects that the unemployment rate could rise to 19.3% - 20.5% this year. (Reporting by Angeliki Koutantou and Lefteris Papadimas)

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