Greece grew better than expected but risks lurk - EU

Greece economy

Greece’s economy performed better than expected last year and is expected to show robust growth in 2017, but must wind up quickly stalled talks on its bailout program with lenders, said the European Commission on Monday.

The commission revised its 2016 growth forecast for Greece to 0.3% from an previous estimate of minus 0.3%, with growth mainly driven by private consumption, investment and exports.

“Economic activity is up in industry, the retail sector and tourism, while exports have also regained strength since the shock in 2015,” it said in a winter economic report on the region.

The commission stuck to its economic growth forecast of 2.7% for this year for Greece but pointed out that uncertainty must be removed from the economy due to ongoing talks with the European Union and the International Monetary Fund on its third bailout program.