OECD: Greek economy will keep shrinking next year

The Greek economy will keep shrinking next year and may need more financial help, the Organisation for Economic Co-operation and Development (OECD) said. The OECD's forecast of 0.4% contraction contrasts with the Greek government's prediction of 0.6% growth in 2014, according to the (BBC). The OECD also said the recession in Greece had been "much deeper than expected" and that debt would not fall below 160% of GDP before 2020. It would mark the seventh consecutive year of recession for Greece. Since 2010, Greece has received rescue loans from the International Monetary Fund and European countries. In return, it has pledged to cut its debt and implement economic reforms. However, the OECD's report suggests Greece may require more help. "The need for further assistance to achieve fiscal sustainability cannot be excluded," the report said.