Greek GDP rises by 1.5 pct in 2017 compared to 2016: statistical authority --China Economic Net

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Greek GDP rises by 1.5 pct in 2017 compared to 2016: statistical authority

Last Updated: 2018-10-18 16:23 | Xinhua

Greek GDP increased by 1.5 percent in 2017 compared to 2016, according to the Hellenic Statistical Authority (ELSTAT) survey released on Wednesday.

The previous preliminary estimate of the authority indicated that GDP for 2017 increased by 1.4 percent.

The growth was mainly driven by household consumption that increased by 0.9 percent, compared to 0.1 percent reported by ELSTAT in March.

General government consumption declined by 0.4 percent.

Other factors contributing to GDP growth were the increase in exports of goods and services by 6.8 percent compared to 2016.

Finally, private investments grew by 9.1 percent and not by 9.6 percent as reported by ELSTAT in March.

It is noted that the GDP growth by 1.4 percent, as reported by ELSTAT in March, was the basis for the state budget that predicts GDP growth in 2018 by 2.1 percent and 2.5 percent in 2019.

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