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Greek PM says country can return to growth within18 months

Greek PM says country can return to growth within18 months

PanARMENIAN.Net - Greece's Prime Minister says the country's economy could contract by more than seven percent this year, but can return to growth within 18 months, according to the Associated Press.

Antonis Samaras also says he hopes to reduce unemployment from a record high of nearly 24 percent to 10 percent by the end of his four-year term in office.

Samaras spoke to his conservative party lawmakers Tuesday, July 24 as representatives of Greece's bailout creditors met officials in Athens as part of their assessment of the country's austerity and reform commitments.

Debt-crippled Greece depends on rescue loans from its European partners and the International Monetary Fund. But if it fails to meet pledges for cutbacks and reforms, the cash lifeline could be cut, forcing the country to default on its obligations and potentially abandon the common European currency.

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He said that his government would also focus on fighting corruption and "eliminating all barriers that impede business from developing".
“We have a simple problem:we prepare 400-500 specialists each year, while there is demand for 2000 professionals," he said.
At Shirak airport in the northern Armenian town of Gyumri, traffic soared by 150% in the reporting period against 2016.
“The investments will be spent to build a canning factory and slaughterhouses, expand greenhouse farms,” Ignati Arakelyan said.
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