Athens, Greece (BBN)-The Greek economy grew in the second quarter, surprising pretty much everyone.
Gross domestic product in the nation grew 0.8 per cent in the three months to June, Athens said on Thursday, reports CNN.
The data — still preliminary at this point — shocked analysts who widely expected GDP to shrink.
So as it stands now, Greece returned to growth after two quarters of recession.
But it’s important to note that the data covers the period just before Greece closed its banks and restricted cash withdrawals as it struggled with a deep financial crisis.
The banks and Athens stock market have since reopened, but some restriction on withdrawals and trading remain.
Greece and its creditors completed negotiations on the terms of a third bailout package on Tuesday.
The Greek parliament will vote on the package on Thursday.
The deal, worth up to 86 billion euro ($95 billion), still needs to receive a stamp of approval by the eurozone leaders, but is expected to be finalized within days.
A big chunk of that money will be used to prop up the banks.
BBN/SK/AD
