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rdf:type	schema:NewsArticle
schema:articleBody	The coronavirus dealt a huge single-quarter blow to Greece's economy, official data showed Thursday, though Athens hopes that recent months will show a tourism-driven rebound. "The Covid-19 pandemic and the restriction measures that were put into place" sent gross domestic product (GDP) plunging by 15.2 percent in the second quarter compared with the same period a year earlier, the state statistics agency said. Exports collapsed by almost one-third and consumption also dropped sharply. Greece reopened its borders from July 1 to limit the harm to its vital tourism sector, but then saw coronavirus cases surge in August. More than half the country's 10,500 cases were recorded last month and officials have blamed the spike in infections on flouting of social distancing rules in restaurants, bars and public gatherings. But even with a general lockdown ruled out, the number of visitors has not lived up to expectations. The Greek tourism confederation (STE) warned last month that tourism revenue would fall well short of a hoped-for 5.0-billion euro ($6.0-billion) influx -- itself a fraction of last year's income. Prime Minister Kyriakos Mitsotakis has warned that Greece will fall into a "deep recession" this year before rebounding in 2021. The Bank of Greece forecasts the economy will contract by 5.8 percent in 2020, while the International Monetary Fund's forecast is more pessimistic at 10 percent. In comparison, business activity fell by 7.1 percent in 2011, the biggest annual drop during the decade-long Greek debt crisis. Athens nonetheless remains able to raise money on financial markets, which was not the case then. Between 2009 and 2018, Greece suffered its worst economic crisis in modern times, and had begun to slowly regain some of the lost ground before it was hit by the impact of coronavirus restrictions. jph/tgb/wai
schema:headline	Coronavirus squeezes Greek economy by 15% in Q2
schema:mentions	Athens USA Gymnastics Prime minister Recession Greece International Monetary Fund Social distancing Gross domestic product Lockdown Pandemic Coronavirus Coronavirus disease 2019 Economy of Greece Greek government-debt crisis Kyriakos Mitsotakis
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-09-03 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	65 (xsd:integer)

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