ATHENS, June 30 (Xinhua) -- The central Bank of Greece (BoG) announced on Thursday a downwards revision of its forecast for this year's gross domestic product (GDP) growth, from 3.8 percent announced in April to 3.2 percent, the Greek national news agency AMNA has reported.
Economic growth could turn out higher than the baseline projection of 3.2 percent, if the strong performance of the first quarter continues in the next quarters of this year, according to BoG's monetary policy report 2021-2022.
However, the risks are tilted to the downside. These relate to a further escalation of geopolitical instability, a worsening international economic climate, disruptions to energy supply and a consequent further increase in energy prices.
For 2023, BoG has forecast 4.1 percent growth, provided that the geopolitical crisis abates by the end of 2022, and energy prices decline. ■