// IP Marketing video - START// IP Marketing video - END

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.

 Top stories
Foreign trade turnover amounted to $1.46 billion in the first four months of 2016, growing by 4,2% against the same period in 2016.
“One of my priorities, as Ambassador, is to further develop our bi-lateral economic ties,” said U.S. Ambassador to Armenia Richard Mills, Jr.
Azerbaijan’s aggression against Nagorno Karabakh failed to strike a blow to Armenia’s economy, the Minister of Economy said.
Total underground mineral resources comprised 4.3 million tons of ore, averaging 4.2 grams per ton for 0.6 mln ounces of gold equivalent.
Partner news