Tag Archives: Economy

Greece’s economy recorded solid growth in the first half of 2022 and it is projected to remain on a growth path in 2022, 2023 and 2024, surpassing the EU and the eurozone average growth rates, the European Commission said in its winter economic forecast report released on Monday. The Greek …

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Finance Minister Christos Staikouras proudly announced on Monday three government interventions aiming to improve the income of most households plagued by the inflation. These three interventions concern the increase of pensions by 7.75%, something that will be visible next week in February’s payments, the increase of the minimum wage from …

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The effects of the global crisis will continue to affect Greece as well, Finance Minister Christos Staikouras said on Thursday speaking to the radio station “Parapolitika 90.1”. However, the state of the Greek economy will be better than in much of Europe as the figures indicating that Greece will not …

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The Greek economy grew by 2.8% in the third quarter of the year compared with the same period in 2021, but fell by 0.5% on a quarterly basis compared with the second quarter, the Greek Statistics Authority ELSTAT said on Wednesday. On a quarterly basis, the country’s Gross Domestic Product …

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Greece’s economy is projected to grow by 1.8% next year, according to the country’s 2023 budget, slightly lower than the figures predicted last month as higher energy costs and inflation take a toll. The final 2023 budget submitted to parliament on Monday is the first Greece has posted in 12 …

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The economic sentiment index plunged to 98.3 points in October, from 104.9 in September, as the end of the tourism season (meaning lower employment and income), combined with the high inflation generated pessimism in both businesses and households. Signs from the purchasing managers’ index (PMI) in manufacturing are far from …

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The Gross Domestic Product (GDP) increased by 1.2% in the second quarter of 2022 in comparison with the first quarter of the year, while in comparison with the second quarter of 2021, it increased by 7.7%, according to the Hellenic Statistical Authority ELSTAT on Wednesday. Growth rates of major macroeconomic …

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The European Commission proposed at the Eurogroup meeting on Thursday to end the enhanced surveillance of Greece on 20 August 2022, when this program ends and not to prolong it. The decision was taken “given the successful delivery of the bulk of Greece’s policy commitments.” A 12-year-long era ends on …

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The European Commission has revised its forecasts for the Greek economy downwards, envisaging a GDP growth of 3.5% in 2022 and 3.1% in 2023, from 4.9% and 3.5% respectively in its winter forecasts made in last February. On Monday, the Commission released its spring 2022 report on economic growth in …

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The Bank of Greece cut its forecast for economic growth to 3.8% this year from 4.8% earlier, and raised its forecast for the inflation rate to 5.2% under the base scenario, in its annual report released on Thursday. The report, presented by Yannis Stournaras, the central banker, also said that …

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The Greek economy will grow faster than the expected average rate of 2% in the next decade because of specific reasons, the Bank of Greece’s governor Yannis Stournaras said on Wednesday. Addressing an EIB’s event in Athens, the Greek central banker said these reasons were: the unusually high private sector …

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The Greek economy is expected to grow by 8.5% in 2021, 4.9% in 2022 and 3.5% in 2023, the European Commission said in its winter economic forecast report released on Thursday, revising upwards its earlier forecast of a growth rate of 7.1% in 2021 and slightly downwards its forecast for …

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The Greek economy contracted by 9.0 percent last year, deeper than an 8.2-percent estimate made in March. The country’s  GDP reached 167.077 billion euros, from 183.640 billion in 2019, the Greek Statistical Authority said on Friday. More specifically, final consumption spending fell 5.5 pct (household consumption down 8 pct and …

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The Greek economy grew by 16.2 percent in the second quarter of 2021 compared with the same period last year, with the country’s GDP rising 3.4% compared with the first quarter of the year, led by consumption, private investments and exports, Greek Statistics Authority ELSTAT said on Tuesday. The Greek …

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Prime minister Kyriakos Mitsotsakis said he was extremely optimist abou tthe future of the Greek economy and named four basic reasons for it. The Greek economy withstood the onslaught of the coronavirus pandemic and is ready to revive, the PM said on Thursday, addressing the opening day of the Economist’s …

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“Greece may be the country with the highest growth rate in the eurozone next year,” Margrethe Vestager, Executive Vice-President of the European Commission for a Europe fit for the Digital Age said on Friday during a meeting with Prime Minister Kyriakos Mitsotakis, at the Maximos Mansion. “Both the management of …

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The Greek economy will grow by 3.5-4.0 percent this year, according to the base scenario of developments, the Foundation for Economic and Industrial Research (IOBE) said in report. The quarterly report, released on Tuesday, said that if the pandemic eased at a slower pace, hitting the tourist season, and if …

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The Committee of epidemiologists and other health experts advising the Greek government will hold an extraordinary meeting on Wednesday, March 17, to assess the epidemiological situation and to consider when and how the lockdown restrictions will be lifted. The prolonged lockdown, in the 4.5th month now, has increased citizens’ fatigue …

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The Greek government announced a package of new economic support measures worth 2.5 billion euros. The new package will relief more than 500,000 businesses, freelancers and workers, the Prime Minister said. The government will allocate an additional 2.5 billion euros to support employees and businesses, which are added to the …

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The government is examining the gradual opening of the economy as of March 22, starting with the retail trade sector, Finance Minister Christos Staikouras said on Monday in an interview with ‘Proto Thema’ FM radio station. “Our basic scenario is that from next week the economy will start operating normally. …

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