Greece said on Monday it will pump more money into its economy to prop up businesses and households battered by the pandemic, as a stronger-than-expected growth forecast for the year gave it the fiscal leeway for a raft of relief measures, APA reports citing Reuters.
Greece emerged from a decade-long financial crisis in 2018 but saw its economy slump again by 8.2% last year amid restrictions to curb the spread of COVID-19, which also hurt its vital tourism industry.
This year, the economy is set to rebound by 5.9%, higher than the 3.6% previously forecast, Prime Minister Kyriakos Mitsotakis said on Saturday, as he outlined a series of tax relief measures.
Finance Minister Christos Skaikouras on Monday said that projection was "absolutely realistic. It may even prove to be conservative".
The government would spend 4.4 billion euros in the second half of the year, bringing the total amount of pandemic support for 2020-2022 to 42.7 billion euros, Staikouras said.
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