Bank of Greece downgraded its growth outlook for 2017 citing negative carry over from the end of 2016.
In its monetary policy report, released Friday, the bank said the economy will grow only 1.6 percent this year instead of previous projection of 2.5 percent.
According to central bank, the weaker growth dynamics can be attributed to the long delay in completing the second review and to the consequent surge in uncertainty, which led to a considerable decline in investment.
The bank said the economy still faces three major legacy problems, namely high unemployment, a high stock of non-performing loans and a high public debt-to-GDP ratio.
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