(MENAFN) Greece's economy slumped at a faster pace in the July-Sep period than earlier projected, hence its GDP dropped by 0.9 percent, which surpassed the forecasted decline of 0.5 percent.
Accordingly, the turmoil was mainly on the back of the capital controls to shore up banks taking a toll on investment, exports and consumer spending, hence the net capital investment fell 7.0 percent.
Furthermore, newly released data from the National Bank shows that investment outlays were dramatically pressed by uncertainty and doubt while capital controls led to a fall in exports.
"We see a full-year reading close to -0.2 to -0.3 per cent, mainly on the back of a positive contribution from net exports and relatively resilient consumer expenditure," said a leading economist.
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