Greece's economy will grow by about 2.4% this year under a baseline scenario, the country's influential think tank IOBE said on Tuesday, upwardly revising its January forecast of 1.4% growth.

The new projection is above the government's revised 2% growth estimate for this year.

Under its baseline scenario, IOBE sees public investment rising year-on-year, tourism revenues growing further, inflation around 4.3% and unemployment at 11%.

It also sees Greece, which emerged from its third international bailout in 2018, regaining an investment-grade credit rating in the second half of the year.

It expects a small delay in reform implementation, mainly due to a national election.

Greece will hold parliamentary elections on May 21, weeks before the conservative government's term expires. But the vote is likely to be inconclusive and lead to a second ballot.

IOBE said that downside risks to growth included protracted political uncertainty, delays in reform implementation, rising food prices and energy costs. (Reporting by Renee Maltezou; Editing by Christina Fincher)