ATHENS (Greece), May 9 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said on Wednesday it has affirmed its November forecast for Greece's economic growth in 2018 at 2.2% predicted in November.
The Greek economy is projected to expand by 2.3% in 2019, the EBRD said in its new Regional Economic Prospects report.
In 2017, Greece's GDP rose by 1.4%, driven by investment and exports, as well as a 10.8% increase in travel receipts, which accounted for 8% of GDP.
The improving trends in investment, employment and confidence are expected to continue through 2018 and 2019, according to the EBRD.
"However, the downside risks remain significant amid uncertainty about the post-programme framework and reform programme and Greece’s long-term debt sustainability," the bank noted.