Greek central bank sees marginal contraction this year

June 15, 2016 7:04 AM

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ATHENS, June 15 Greece's economy is expected to contract by 0.3 percent this year, with the completion of the first bailout review helping to restore confidence and improve growth prospects, the country's central bank said on Wednesday.

"For 2016 as a whole, the GDP growth rate should turn out marginally negative at -0.3 percent as the positive growth rates expected for the third and fourth quarter should partly offset the negative outcome of the first half," the Bank of Greece said in a monetary policy report.

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