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Greek economy will remain in recession even throughout 2010, announced experts from the International Monetary Fund and the World Bank during their annual meeting in Istanbul. Based on the report “Global economic prognosis” in 2009 the Greek economy will shrink with 0.8% and in 2010 with another 0.1%. They also note that this year’s recession is the first one for the country since 1993.

Dark are also the prognosis regarding the unemployment level, which during next year will reach 10.5%. This year it will be 9.5% and last year it was 7.6%. the budget deficit for this year will be 6.4% and for 2010 it will reach 7.1%, claim experts from IMF. The inflation rates will remain low – 1.1 for 2009 and 1.7 for 2010.

Otherwise the expectations for the global economy are optimistic. IMF managing director Dominique Strauss-Khan announced in Istanbul that the recovery of global economy has already started. “Though, this does not mean that the crisis has ended. Unemployment levels will remain to be one of our biggest problems,” stressed the IMF director.