Greek economy to 'contract 2.5%' in 2012
Athens - AFP
Greece's economy will contract 2.5 percent next year, according to the 2012 draft budget the government submitted to parliament on Monday. "Due to the continuation of the stabilisation of the Greek economy and the considerable recession in 2011 with an expected contraction of 5.5 percent of GDP, the rhythm of the economy is expected to continue to be negative in 2012 before an expected recovery in 2013," it said.
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