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Greek economy expected to grow by 4.5% next year – Fiscal Council

People make their way in front of the Bank of Greece in Athens June 11, 2014. REUTERS / Yorgos Karahalis / File Photo

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Athens, Nov. 19 (Reuters) – Greece’s economy is expected to grow 4.5% next year after a stronger-than-expected recovery this year from higher tourism revenues and a boost from government support measures, the country’s Finance Council said Friday with.

The government expects the economy to grow 7% this year, better than the 6.1% it forecast in October’s draft budget, Finance Minister Christos Staikouras said Thursday.

The Fiscal Council, an independent body that assesses macroeconomic projections, said it would take the government’s projections but also said there were risks for 2022.

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“Financial risks can arise from a resurgence of the pandemic, which requires new measures to support the economy,” it said. “Persistent inflationary pressures – especially in the energy sector – could require compensatory measures.”

Greece, which emerged from a decade-long financial crisis in 2018, saw its economy plummet by around 9% last year due to pandemic restrictions and a coll -se in tourism revenue.

The government is expected to present the final version of its 2022 budget to parliament on Friday, which will be voted on before the end of the year.

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Reporting by Lefteris P -adimas. Ad -tation by Jane Merriman

Our Standards: The Thomson Reuters Trust Principles.

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