EU cuts Greece growth forecast amid bailout rowMay 11, 2017 - 13:46 AMT PanARMENIAN.Net - The EU sharply cut the growth forecast for Greece on Thursday, May 11, sparking worries that a long delay in its bailout programme was damaging the economy, AFP reports. The Greek economy will grow by 2.1 percent in 2017, the European Commission said in its spring economic forecast. This was compared to the prediction of 2.7 percent made in February. The commission, the EU's executive arm, also slashed the growth forecast for 2018 to 2.5 percent from the earlier prediction of 3.1 percent. Greece and its creditors agreed a third, 86-billion-euro ($94-billion) bailout deal in July 2015, but a row with the IMF over debt relief has held up the programme. A compromise is required to unblock a tranche of loans Greece needs for debt repayments of seven billion euros in July. Additional debt relief for Greece has proved a contentious point for many of its European creditors including powerful Germany, where additional concessions are unpopular with an electorate called to a general election in September. Related links: Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Kazakh Foreign Minister arrives in Armenia Kazakh Foreign Minister Murat Nurtleu on Monday, March 18 arrived in Armenia for a two-day trip. Aliyev touts “good chances” for normalizing ties with Armenia Azerbaijani President Ilham Aliyev has declared that there are “good chances” for normalizing relations with Armenia. Top Armenian, Indian defense officials discuss cooperation The discussions primarily focused on enhancing cooperation in the defence sector between Armenia and India. IDBank unveils three sad stories about fraudsters IDBank has unveiled three scenarios of card fraud that have been happening more and more often in Armenia. |