Greek central bank chief sees growth, risks remain
Greek central bank chief expects modest growth after 6-year recession, warns recovery fragile
ATHENS, Greece (AP) -- Greece's outgoing central bank chief says the country's battered economy is on track to start expanding again after a punishing six-year recession, but is warning that any slippage in reforms could still lead to disaster.
George Provopoulos said in a report Thursday that confidence in the prospects of the bailed-out country's economy is being restored and markets "anticipate a gradual exit from the crisis."
The report expects the economy to grow 0.5 percent this year, just below the government's 0.6 percent forecast.
But it warns that "the slightest backtracking or reversal" in reform policy could lead to Greece losing bond market access and cause economic instability.
Greece has implemented harsh spending cuts, reforms and tax hikes since 2010 to secure vital international bailouts, after it nearly went bankrupt.
