Greek central bank chief warns of 9.4% economic slump if pandemic worsens

(Reuters) – Greece’s recession-hit economy could shrink at a rate closer to its central bank’s worst-case scenario if the coronavirus pandemic deepens, the head of the Bank of Greece said on Saturday.

The central bank has forecast the economy to contract by 7.5% this year under a baseline scenario, faring worse than a previous forecast of a 5.8% decline in gross domestic product.

The bank’s adverse scenario predicts the economy to shrink by 9.4%.

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