Greece ‘to come out of recession in 2014′

<p>Greece could emerge from its recession next year.</p>

The Greek government has stated that it expects the country's economy to come out of recession next year.

Vice finance minister Christos Staikouras explained the government believes the recession in Greece will come to an end in 2014.

Diego Iscaro, principal economist at IHS Global Insight, suggested that claims the Greek economy could expand next year are too optimistic.

"If it performs less well than expected it will have a knock-on effect on taxes and spending and Greece will have to renegotiate its fiscal target," he was quoted as saying by BBC News.

Mr Iscaro stated that he expects the Greek economy to contract between 0.8 per cent and one per cent next year.

Greece was hit by the global recession harder than most countries and since 2008, its economy has shrunk by 23 per cent in total.

The country has been given an austerity plan as part of its bailout, which has led to widespread anger across the nation at other European locations such as Germany.

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