OECD sees Greek GDP growing by 0.8% in 2014 and by 2.3% in 2015

GDP is seen growing by 3.3% in 2016. The previous 2014 estimate called for called for a contraction of 0.3%. The debt to GDP is expected to peak this year at 176.1%.

The budget deficit is seen at 0.5% of GDP in 2015 form 1% this year, while it will turn to a surplus of 0.2% in 2016. OECD says that reducing public debt to prudent levels will require years of solid growth and strong fiscal position and may also call for an additional debt relief by extending maturities or lowering rates on outstanding debt.