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Report: Greece's unemployment to rise to 30 percent in 2014

June 23, 2013 at 6:56 PM   |   Comments

ATHENS, Greece, June 23 (UPI) -- Greece's unemployment rate will increase to more than 30 percent in 2014 while the economy contracts, a report indicates.

A report by the Center of Planning and Economic Research released Friday said the jobless rate will rise to 28.5 percent in 2013 and reach 30.4 percent in 2014.

"This is a particularly negative development, but it is also inevitable given the continuing reduction in economic activity," the report said.

The center predicts the economy will shrink by 4.09 percent this year, though the government forecasts a 4.5 percent reduction, ekathimerini.com reported Friday.

The government expects a 0.6 percent growth in 2014, while the report suggests a decrease of 0.55 percent.

The center predicts deflation of 0.18 percent this year and 0.12 percent in 2014, ekathimerini.com said.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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