Tue Dec 17, 2013 5:40am EST
ATHENS Dec 17 (Reuters) - Greece's polarised political climate threatens to undermine the economy's chances of recovery, the central bank said on Tuesday, though it joined the government in predicting the country would claw its way out of recession in 2014.
In an interim report on the economy, the Bank of Greece predicted the economy would contract by about 4.0 percent this year, less steep than the 4.6 percent it projected in May.
It also forecast an end to six years of recession in 2014, seeing growth of 0.5 percent compared with the government's forecast of 0.6 percent.
But it cautioned that an unstable political climate posed risks and urged the country to seek common ground and to push ahead with reforms demanded by the country's foreign creditors.
"A significant problem arises from the political climate, which shows elements of polarisation and confrontation in a period when the opposite is required," the report said.
Greece's economy has shrunk by a quarter since its recession began in 2008, the downturn exacerbated by fiscal austerity demanded by its international lenders in return for a bailout to rescue it from bankruptcy.
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