• oecd

Greece’s economy continues to remain in recession until 2016, OECD says

The debt rate will reach 190% this year and 200% in 2016

Greece will remain in recession for two more years, as Organisation for Economic Co-operation and Development  (OECD) forecasts for Greece a few days after similar estimates released by European Commission.

According to OECD recession will reach 1.4% for this year and 1.2% for 2016. Last June, the organization had said that this year there would be an economic growth of 0.1% and 2, 3% for next year.

Regarding the debt, OECD’s analysts estimate that it will reach 190% this year and 200% in 2016, while unemployment will reach 25.2% this year andin 2016 will record a decrease reaching 24.8%.

In eurozone level, OECD forecasts economic growth rate will reach 1.5% this year, 1.8% in 2016 and 1.9% in 2017.