Greek economy seen growing 2 per cent this year

ATHENS, Greece – The Organisation for Economic Co-operation and Development says Greece is on track to recover from its economic depression, but long-term growth prospects are modest and further reforms must be pursued.

OECD chief Angel Gurria says the Greek economy should grow 2 per cent this year and 2.3 per cent in 2019, as the country heads out of an eight-year financial crisis.

He warned, however, against any slackening in the pace of economic reforms. Gurria spoke after talks in Athens Monday with Greek Prime Minister Alexis Tsipras, as the OECD released its 2018 economic survey for Greece.

The report noted that despite a strengthening economy, poverty and inequality remain high, the public administration is inefficient and tax evasion is hampering growth.

Recommendations included further liberalizing product markets and raising the effective retirement age.