ATHENS (Pakistan Point News / Sputnik - 05th March, 2021) Greece's GDP declined by 8.2 percent in 2020 compared to the previous year, according to preliminary estimates, the Hellenic Statistical Authority (ELSTAT) said on Friday.
The next GDP estimate for 2020 is scheduled to be announced on October 15, 2021, ELSTAT said.
"The Hellenic Statistical Authority (ELSTAT) announces the first estimate of the Gross Domestic Product (GDP) for the year 2020 ... According to this estimate, GDP for 2020 in volume terms amounted to 168.5 billion euro [$201.2 billion] compared with 183.6 billion euro for 2019 recording a decrease of 8.2%," the agency said in a press release.
At current prices, the country's GDP for 2020 amounted to 165.8 billion Euros compared to 183.4 billion euros for 2019, marking a 9.6-percent decrease, ELSTAT said, noting that the data reflects the impact of the COVID-19 pandemic and related restrictions on the Greek economy.
Commenting on the preliminary estimates, Greek Finance Minister Christos Staikouras told Sputnik that the country's economy "survived" the pandemic, with the annual drop being less than forecast.
