Next year, growth will most likely accelerate to 2.0 per cent or slightly higher," IOBE
said in its quarterly review.
released these findings on January 3, 2006.
had projected 1.5 to 1.8 per cent growth this year in its previous estimate in January, compared to the 2.7 per cent forecast by the government, but has cut that estimate as the protracted review of the bailout has increased uncertainty.
Greece's economy contracted by about 0.5 per cent last year, less than previously expected, and will stay in recession this year without a strong surge in investment, the country's influential think tank IOBE
said in a quarterly report on Thursday.
Maniatopoulos, 72, has an engineering background and is a board member at think tank IOBE
. He has previously chaired the board at theport of Piraeus (OLP), and worked for the European Commission's Energy department.
"This is a very dramatic result of the recession," said Angelos Tsakanikas, head of research at Greece's IOBE
economic research foundation.
(71) Also, according to a recent study conducted by the Foundation for Economic and Industrial Research (IOBE
) for the Global Entrepreneurship Monitor, in 2003 Greece belonged to a cluster of countries, mainly European, that display medium levels of entrepreneurial activity; however, Greece exhibits a high degree of "necessity entrepreneurship", i.e.
Greece's economic sentiment also hit its lowest level in almost three years in July, a monthly report by the IOBE
think tank showed.
Citing rising uncertainty due to the prolonged negotiations, the influential Athens-based IOBE
think-tank revised down its GDP growth forecast for the country this year to 1.0 percent from 2.3 percent.
"The great pessimism is easing but optimism has not taken its place yet," said economist Angelos Tsakanikas, whose IOBE
research institute compiles the sentiment data.
think-tank's overall economic sentiment gauge hit a 3.5-year high in April, it said on Thursday, the same day that the Athens bourse benchmark index hit its highest level since August 2011.