A Cypriot developer has welcomed the news that Greece could see GDP growth rates of 2,5% to 3% in two years' time.
According to the country's prime minister, Lucas Papademos, speaking during an official visit to Cyprus this week, current projections suggest Greece's economic output – or gross domestic product – will start rebounding from five straight years of recession in the second half of 2013.
Papademos said this will happen if the Greek authorities, including a new government to emerge from elections due in early May, stick to reforms and take additional measures to speed up economic recovery such as introducing job creation schemes.
Papademos said a large proportion of the recent EU loan will be used to recapitalise Greek banks in order to boost liquidity and provide businesses with support for growth.
Source: http://opp.org.uk/news-article.php?id=6433