Greece predicts end of recession, slight return to growth in 2014

ATHENS, Greece – Greece’s deputy finance minister says the economy is expected to emerge from its recession and grow slightly next year.

Christos Staikouras said Thursday that the 2014 budget projects economic growth of 0.6 per cent next year. He spoke as he presented the budget, submitted to Parliament moments earlier by Finance Minister Yannis Stournaras.

Staikouras said the economy is expected to contract by 4 per cent this year, slightly less than the originally expected 4.5 per cent.

He said the conditions are being created for Greece to return to the international bond markets next year. It has been priced out of them by high interest rates since 2010, and relies on international rescue loans.