Greek economy seen shrinking 1.4 percent in 2015, less than expected

October 21, 2015 8:49 AM

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ATHENS Oct 21 Greece's recession this year is expected to be shallower than initially forecast, with officials expecting a drop in output of 1.4 percent from earlier estimates of a 2.3 percent contraction, sources said on Wednesday.

Sources close to bailout talks said that the lenders had agreed with the new projection. The estimate for a 1.3 percent drop in output for next year remains.

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