The Greek economy is expected to experience a 0.2 percent fall in GDP in 2016, according to Bank of Piraeus. Its Economic Analysis department used data from the Greek National Statistics Services (ELSTAT) that looked at the last quarter of 2015 economic results along with current developments and trends in the economy.
According to ELSTAT data, GDP rose slightly during the last quarter by (0.1 percent), but this wasn’t enough to erase a decline of 0.8 percent for the whole of 2015. On a more positive note, domestic consumption strengthened during the year, while imports fell more than exports did. Stocks and inventories had a negative impact on GDP, however, according to the same data.
