Greece has got another tranche of the EU financial aid totaling €1.7 billion. According to the information agency Associated Press, the International Monetary Fund has already set the terms and the volume of the money inflow. The reason for that was the experts' positive assessment of measures implemented by Greece's government to stabilize the economic situation. Since last March Athens has received about €6.6 bln from the IMF. Besides these cash receipts, last week the Greek treasury was supplemented by €7.2 billion allocated by the European Financial Stability Facility. The specialists estimated the total amount of money earmarked by different sources to Greece at €188 bln.
The additional subsidies helped Greece's government to reduce the budget deficit, but the complete economic recovery is unlikely in the short term. Considering the positive trend, Fitch upgraded the sovereign credit rating of Greece from CCC to B-, the outlook is stable. However, since the beginning of the crisis, its GDP has declined by 22%, and this year the economists expect a further decrease in this indicator by 4.5%. Moreover, the country's unemployment is still high at 27%, and the bulk of the industrial sectors shows anaemic consumption.