WORLD Greece's GDP grew by 2.3 pct year-on-year in Q3 2019

WORLD

Greece's GDP grew by 2.3 pct year-on-year in Q3 2019

Xinhua

23:30, December 05, 2019

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ATHENS, Dec. 5 (Xinhua) -- Greek gross domestic product (GDP) grew by 2.3 percent in the third quarter of 2019 compared with the same period in 2018, and by 0.6 percent compared with the second quarter of 2019, the Hellenic Statistical Authority (ELSTAT) said in provisional figures released on Thursday, Greek national news agency AMNA reported.

The state budget, which is due to be voted in the Greek parliament later this December, envisages a GDP growth rate of 2 percent this year and 2.8 percent in 2020, AMNA noted.

Economic recovery after the debt crisis continues to be driven mainly by increasing exports, the latest data showed. According to the figures provided by ELSTAT in Q3 this year, exports of goods and services rose 9.5 percent compared to the same period in 2018 (goods up 6.2 percent and services up 14.5 percent).

On a quarterly basis, exports of goods and services rose 4.5 percent (goods up 2.4 percent and services up 6.7 percent).

In August 2018, debt-laden Greece exited the era of bailouts and is gradually returning to financial markets as economic recovery is progressing.  


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