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The economic climate in Greece has reached its lowest level in 16 months, with a significant decline in consumer confidence as revealed by the Foundation for Economic and Industrial Research. The indicator of economic climate in the country significantly deteriorated in April compared with March, reaching 92.7 points (from 96.8).

According to the Foundation for Economic and Industrial Research, the ongoing uncertainty over the financing of the Greek economy and the content of a possible agreement with the partners and creditors are limiting the initial optimism of business, but also of households, which occurred after the elections in January. The index movement portends a negative development in the growth rate of economic activity in the country as well, which is logical, as the ongoing uncertainty over a possible agreement with the creditors affects the general economic climate.

At the level of countries, Greece again holds the lead in terms of pessimism in the European Union and Bulgaria ranks second (-32.8 points from -33.2), followed by Hungary (-23.6 points from -23), Croatia (-22 points from -23.5) and Cyprus that has recorded a significant growth (-21.9 points from -31.9). The average European index reports an insignificant decrease within the European Union (from -1.8 points to -2.2) and a slightly larger decline in the euro zone (up to -4.6 points from -3.7).

"Until the contract is signed, Greece will be perceived with mistrust, and this directly affects tourism", President of the Association of Greek Tourist Enterprises Andreas Andreadis told SKAI TV, stressing that the target of attracting 25 million tourists in 2015 would be revised downwards since the tourist flow in March was highly negative. "There is still time to save the year", said Andreadis.