About: http://data.cimple.eu/news-article/81ba70a3c80f73fd4fba284db0b439afa1b19ca15fe1c7d481e9ee0f

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rdf:type	schema:NewsArticle
schema:articleBody	Greece's economy contracted in the first quarter as early measures against the coronavirus pandemic hurt business activity, the national statistics bureau reported on Thursday. Gross domestic product (GDP) fell by 1.6 percent in the quarter compared with the previous three months, and by 0.9 percent year-on-year, Elstat said as it released provisional data. It explained that a sharp drop in investment was the main reason for the fall, as that sub-category was down by 8.4 percent from the previous quarter. But data for the month of March alone showed that month was not as bad as expected, government spokesman Stelios Petsas told a press conference. Prime Minister Kyriakos Mitsotakis has already warned the country that the economy would fall into a "deep recession" this year before rebounding in 2021. The latest estimate by the finance ministry suggests that business activity could drop by up to 13 percent from the level in 2019. Between 2009 and 2018, Greece suffered its worse 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. The country was shut down for six weeks, and the International Monetary Fund forecast in May that GDP would decline by 10 percent this year before growing by 5.5 percent in 2021. hec/wai/jh
schema:headline	Greek economy shrinks 1.6% in Q1
schema:mentions	Prime minister Recession Greece International Monetary Fund Gross domestic product Pandemic Severe acute respiratory syndrome coronavirus 2 Economy of Greece Stelios Haji-Ioannou Kyriakos Mitsotakis
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-06-04 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	64 (xsd:integer)
http://data.cimple...tology#hasEmotion	fear

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