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 | Armenian, Saudi Foreign Minister meet in Riyadh The two commended the positive dynamics of the development of political dialogue between Armenia and Saudi Arabia Pashinyan: Azerbaijan’s proximity shouldn’t worry border residents At the same time, he said that he “does not guarantee [the security of villagers] one hundred percent”. U.S. doesn’t see Russia as contributing to peace in Caucasus Patel made the remarks when asked about the implications of Russia’s withdrawal of peacekeepers from Karabakh. Up to 1% cashback when shopping on Wildberries with IDBank cards IDBank is launching an exclusive campaign on Wildberries for online shopping enthusiasts. |