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Bank of Greece annual report sees recovery as of 2014

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BoG annual report sees recovery as of 2014

Central Bank of Greece (BoG) governor George Provopoulos will present the central bank's annual report on the Greek economy at noon on Monday.

According to sources, the report ascertains that noteworthy progress has been achieved in the adjustment of the Greek economy, but warns that there is no room for complacency due to the large recession and skyrocketing unemployment.amna

The BoG further predicts that Greece's GDP will shrink further in 2013 by 4.5 percent, and anticipates that economic recovery will begin in 2014.

The central bank also recommends a reform of the taxation system in order to expand the tax base and restore a just distribution of the tax burdens, the sources added.

Last Updated Monday, 25 February 2013
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