The Greek economy contracted at a faster pace than previously estimated, confirming the country remains mired in recession as government spending and exports both fell, data from Greek statistics agency Elstat showed Friday.
Greek gross domestic product contracted 6.3% on the year in the second quarter. That is a revision from the 6.2% drop reported in the provisional estimate last month and compares with a 6.5% fall in the first quarter and a contraction of 7.3% in the second quarter of 2011.
After being bailed out twice by international lenders, the Greek coalition government is currently negotiating further cutbacks and reform measures and reorganizing its debt-repayment plans with the European Central Bank, the International Monetary Fund and the European Commission and seeking more time from creditors to implement the terms. of the bailouts
As part of those efforts, Prime Minister Antonis Samaras will meet European Council President Herman Van Rompuy in Athens Friday and ECB President Mario Draghi next week.
Figures from Elstat, meanwhile, showed that total consumption slumped 7.2% on the year in the second quarter after a 7.1% drop in the first quarter, with the fall in consumer spending particularly sharp.
Δεν υπάρχουν σχόλια:
Δημοσίευση σχολίου