IOBE: Greek GDP to expand by 0.7% in 2014

In its quarterly report published yesterday, the Foundation for Economic and Industrial Research (IOBE) reiterated its forecast for Greek GDP growth of 0.7% this year (vs the government and the troika’s forecast for +0.6% y-o-y), while unemployment is still expected to decline marginally to 26.7%.

Presenting the report yesterday, IOBE researchers stressed that political uncertainty ahead of a presidential vote early next year is dampening investment appetite in Greece, while IOBE’s general manager appeared confident that Greece will be able to tap the international bond markets subject to the successful conclusion of the troika assessment, a positive market climate and a funding ’complementarity’ between EU and the markets.