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Greek PM: 2017 growth close to 2 pct

Tuesday, August 29, 2017 - 01:27

Greece's economy will grow by about 2 percent this year and unemployment will ease further in 2018, Prime Minister Alexis Tsipras has said, in an attempt to show the country was turning a page after seven years in crisis. Laura Frykberg reports.

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A new chapter, for this Greek tragedy. Athens says the economy will grow by 2 percent this year. A sign - say some - it's time for debt relief. (SOUNDBITE) (English) BGC PARTNERS MARKET STRATEGIST, MIKE INGRAM, SAYING: "If it actually produces the numbers that they're projecting over the medium term then by definition Greece does not need that help." Greece is on its third multi-billion euro bailout.. Which expires next year. In exchange for the loans, it's had to implement years of austerity. But the economy is beginning is pick up pace again. Athens returned to the bond market in June. It's also implementing a new state development bank for smaller businesses. Unemployment too is expected to drop... Although one in five will still be out of work. (SOUNDBITE) (English) BGC PARTNERS MARKET STRATEGIST, MIKE INGRAM, SAYING: "Ultimately Greece needs debt relief in order for its economy to be put on a stable footing and basically to be given the chance of growing at any rate to support its population for anybody there to have a decent quality of life." But so far, there's no sign of that happening. While the IMF has supported debt relief.. Germany's Finance Minister Wolfgang Schauble has said it's not on the agenda before the German election. It might be ready to, but it could be a while yet before Greece can properly turn a page.

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Greek PM: 2017 growth close to 2 pct

Tuesday, August 29, 2017 - 01:27