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Battered Greek economy expands mildly in April-June

By on August 29, 2016

A man stands in front of a National Bank branch in Piraeus, near Athens, Saturday, Oct. 31, 2015. Greece and its bailout creditors remain divided over how to toughen foreclosure laws, according European Union officials, though the overall talks on getting the country the next batch of loans are on track.   (AP Photo/Yorgos Karahalis)

A man stands in front of a National Bank branch in Piraeus, near Athens, Saturday, Oct. 31, 2015. (AP Photo/Yorgos Karahalis)

ATHENS, Greece – Greece’s battered economy expanded by a quarterly rate of 0.2 percent in the April-June period, despite a small decline in consumer spending and exports.

The figure released by the country’s statistical authority Monday was slightly lower than its initial estimate, earlier this month, of 0.3 percent growth.

Greece’s economy has shrunk by about 25 percent since the debt crisis broke out in 2009. The country is being kept afloat by international bailouts, issued on condition of successive spending cuts and reforms.

The left-led government will enter a new round of talks with its creditors next month on the course of its budget austerity program.

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