The country managed to emerge from recession in the second quarter of this year, according to flash estimates by the National Statistical Institute on Friday (August 13th).

GDP registered an increase of 0.3% in the second quarter, compared to the first one. The positive result comes after six consecutive quarters of decline, which forced the country to seek a 20 billion-euro loan from the EU and the IMF.

On an annual basis, however, economic growth in the second quarter slowed by 0.5%. The regular GDP release is expected on September 1st.