Greece's GDP contracted by 8.2% in 2020, which is better than the estimates made by the country's government and international organizations. 

These preliminary data were reported by the Hellenic Statistical Authority (ELSTAT), TASS reported.

According to it, the Greek economy experienced an 8.2% recession in 2020, which shows that the country's economy is more resilient than expected by the government and [international] institutions. 

The data shows that GDP declined by 7.9% in the fourth quarter of 2020 compared to the corresponding period in 2019 and by a total of 8.2% in 2020, the statistical office noted.

It also analyzed the dynamics of GDP for the previous quarters. According to the estimates, the decline in GDP in the third quarter was 10.5%, in the second quarter - 13.8%, and in the first quarter of 2020, the fall was 0.1% (growth was forecasted at 0.4%).

There is a forecast of a 10.5% decline in 2020 in the state budget of Greece for 2021 and the country's economy is forecast to grow by 3.3% in 2021. The European Commission's winter forecasts said that the drop in Greece's GDP could reach 10% last year.