Greek PM says economic pain will ease next year

September 7
6:01 PM 2013

By 2014, the economic pain of Greece would end as it exits a recession. The end of the economic recession of the country would end prior than the forecasted year. This would allow the country to meet its targeted bailout said Prime Minister Antonis Samaras on Saturday.

Greece had been struggling through a six year slump that had shrunk its economy. The country's economy had suffered by more than a quarter, increased levels of poverty, left a lot of people jobless and had thousands of businesses to close down. The European Union and International Monetary Fund bailed the country out with two multi-billion euro rescue loans. The country's projected gross domestic product would lower down by 4.2% this year compared to 6.4% in 2012.

Samaras said that the 2013 economic slump would be smaller than what was forecasted. The Prime Minister promised Greeks that the country's economy would return to growth by next year.

© 2022 VCPOST, All rights reserved. Do not reproduce without permission.


Join the Conversation

Subscribe to VCpost newsletter

Sign up for our Deals of the Day newsletter.
We will not spam you!

Real Time Analytics