Following a prolonged period of recession, the Greek economy has once again a real chance to embark on a new growth path (see Figure 4).
After the headwinds at the end of 2016 due to delays in the implementation of the adjustment programme, the economy moved into expansionary territory in the first two quarters of 2017, with real GDP growth amounting to 0.4% y-o-y and 0.8% y-o-y, respectively. The completion of the second review in June 2017 allowed the positive momentum to continue.