Despite the bail-out programme the ruling Democratic Rally (Disy) party performed well in the European Parliament elections in May 2014. However, implementing unpopular structural reforms will become more difficult.
We forecast that the budget deficit will narrow from an estimated 5.1% of GDP in 2014 to around 4% by 2015, and average close to 2.5% in 2017-19.
We have revised up our 2014 real GDP estimate to a contraction of 3.4%, from a decline of 3.7% previously, reflecting healthier year-on-year outturns in domestic demand components. We expect growth to average 1.4% in 2015-19.

Highlights 7

Political outlook 8

Economic policy outlook 9

Economic forecast 11

Annual data and forecast 14

Quarterly data 15

Monthly data 16

Annual trends charts 18

Monthly trends charts 19

Comparative economic indicators 20

Basic data 21

Political structure 22

Politics 23

Economy 32

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