The Bank of Greece says the country is likely to miss its 2019 growth target due to growing international uncertainty and doubts over the government’s commitment to long-term reforms.
Central bank governor Yannis Stournaras, presenting the bank’s annual report Monday, said the Greek economy was likely to grow by 1.9 percent this year. That below the European Commission’s forecast of 2.2 percent and Greece’s official budget estimate of 2.5 percent.
Greece remains under supervision of bailout lenders despite ending the rescue program in August and having twice successfully tapped bond markets this year to raise cash.
With its national debt at roughly 180 percent of gross domestic product, Greece is hoping to qualify for additional debt relief from European lenders.