IOBE: Greek economy to grow by 0.7 % in 2014

The Greek economy is expected to grow by 0.7 % in 2014 following six years of recession, while the unemployment rate is apparently going to drop to 26.7 % according to the quarterly report on the Greek economy of Institute for Economic and Industrial Research (IOBE).

In the report (link of report in Greek at bottom) IOBE says that "the transition of the Greek economy to a modest growth later this year will lead to a small decline in unemployment for the first time since 2008."

It adds that developments in the labor market come with a delay of 2-3 quarters from productive activity, therefore the unemployment rate fall will be felt from the third quarter.

See IOBE Report (in Greek) by Clicking HERE