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NBG Forecast: Economics Growth to Be around 4.5% in 2018

According to the National Bank forecasts, real GDP growth in 2018 will be around 4.5% thanks to positive contribution from net exports, consumption and investments, as a result of currency inflows from abroad, improvement of business moods and capital expenses of the state budget.

Despite the mentioned improvement, according to current estimations, consolidated demand cannot come up with the potential level of GDP. The mentioned gap will be gradually narrowed in 2018 and 2019, according to the forecast. 

According to NBG estimations, in 2017 GDP growth turned out higher than expected. “According to preliminary indicators, real GDP growth made up 4.8%. Economic performance was improved thanks to positive tendencies in foreign sector.

Namely, exports of goods and services considerably improved, as well as money transfers. 

However, throughout the year comparatively high volume of investments made positive influence on economic growth, as well as moderate growth in consumption. And this factor improves consumer moods and grows loans portfolio”, according to the NBG.