Greece's debt-ridden economy stagnated in 2016, the national statistics agency said in a first estimate on Wednesday, two days after quarterly data pointed to a small contraction.
"GDP in volume terms recorded 0.0% annual rate of change in 2016," Elstat said, adding that the figure was derived from non-seasonally adjusted quarterly levels plus updated data.
On Monday, Elstat had released fourth-quarter figures for 2016 that indicated an annual contraction of 0.05%.
This is in sharp contrast with the European Commission's estimates that the Greek economy would actually register slim growth of 0.3% in 2016.
The new figures come at a time when Athens is locked in crucial bailout talks with the IMF and the European Union for its crisis-battered economy.
There are already deep divisions between Brussels and the Washington-based lender, which believes that the Europeans' expectations of Greece's economic performance are too ambitious.
Friday, March 28, 2025
