Deficit at 8.1% in '10, OECD
(ANA-MPA) -- The Greek economy is projected to shrink by 3.7 pct this year and by 2.5 pct in 2011, a report by the Organisation for Economic Cooperation and Development (OECD) stated on Wednesday. The Paris-based organisation, in a report on the economic outlook of its members, projected that Greek unemployment would jump to 12.1 pct this year, up from 9.5 pct in 2009, rising further to 14.3 pct in 2011. The inflation rate was projected at 3.0 pct this year, falling to 0.3 pct in 2011, pressured by reduced economic activity and rising unemployment in the country. (ANA-MPA) The country’s fiscal deficit is projected to fall significantly to 8.1 pct of GDP this year and to 7.1 pct in 2011, down from a double-digit 13.5 pct in 2009. (ANA-MPA)
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