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Greek recession seen deeper than 7 percent this year: PM
July 24, 2012 / 9:42 AM / 5 years ago

Greek recession seen deeper than 7 percent this year: PM

ATHENS (Reuters) - Greece’s recession may be deeper than 7 percent this year, Prime Minister Antonis Samaras said on Tuesday, estimating that the country would not return to growth before 2014.

Greece's Prime Minister Antonis Samaras attends a parliament session in Athens July 7, 2012. REUTERS/Yorgos Karahalis

“We will start containing the recession this year and we will be able to move onto recovery at the beginning of 2014,” Samaras told a parliamentary group meeting.

Greece is in a fifth straight year of recession and blames the deeper than expected contraction for missing its tax revenue and budget deficit goals.

Reporting by Harry Papachristou

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