Greece emerges worst quarterly economic decline reporting a 2.3% increase in third quarter of 2020, Reuters reports.
Greece’s GDP contracted by 14.1% in the second quarter of 2020, the worst decline in at least 25 years, according to revised data released by Athens.
Greek economy decreased by 11.7% between April and June 2020, confirming official expectations of a more than 10% rebound this year as a whole.
”The decrease in tourism by about 75% is reflected in the annual economic data”, said Nikos Magginas, chief economist of National Bank of Greece.
On Thursday, Greece announced an extension of the restrictions imposed after the second wave of the pandemic until December 14, due to the still high number of coronavirus infections.