A top Citigroup analyst this week called Greece’s pandemic-related recession as more-or-less similar in severity to the rest of Europe, despite the country’s enormous dependence on tourism.
Citigroup economist Giada Giani added, predictably, that a revived tourism sector this week will be felt in the second half of the year, coinciding with the “plentiful” resources from the Union’s recovery fund, (NextGenEU).
Citigroup’s forecast for the Greek economy, listed in the banking giant’s monthly report for the global economy, points to growth of 4.1 percent in 2021 and 6.5 percent in 2022. The report also mentions that Greece’s portion of NextGenEU corresponds to 16 percent of its GDP over the next 16 years, the highest in the Euro zone.
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