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Tag Archives: Economy

Mitsotakis in Davos talks about Greek economy, sustainable growth, migration

Prime Minister Kyriakos Mitsotakis, in an interview on Bloomberg TV  on Friday, said that he was confident that 2024 will be a very good year for the Greek economy, which is growing faster than the average for the euro area and can thus attract more foreign investment. “If we look …

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Mitsotakis: “Counterbalance” to wildfires damages “is good economy performance”

Greece’s prime minister Kyriakos Mitsotakis unpleasantly surprised with a statement massively lacking empathy and suggesting that the only thing that can “counterbalance” sombre mood in Greece due to extensive wildfires damages is the “good performance of economy.” While the wildfire in Evros, NE Greece, keeps raging for almost two weeks, …

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IMF revises upwards forecast for Greece’s economy growth 2023-24

The International Monetary Fund (IMF) on Tuesday revised upwards its forecast for the Greek economy this year to 2.6% from its autumn forecast of 1.8% in October 2022, and said the Greek economy was expected to grow by 1.5% in 2024 from 1.4%. The IMF, in its spring World Economic …

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Three interventions to improve households’ income

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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Greece’s economy grows 2.8% in Q3 2022

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 2023 Budget projections: 5% Inflation, 1.8% Growth

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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Economic sentiment in Greece declines in October

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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Greece’s economy grew by 7.7% in Q2, says ELSTAT

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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EU Commission, Eurogroup end enhanced surveillance for Greece

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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EU Commission revises forecasts for Greece’s economy downwards to 3.5%

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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Bank of Greece cuts its forecast for economic growth to 3.8% in 2022

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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Greek economy to grow faster than expected, says Bank of Greece

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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Greece’s economy grew by 8.5% in 2021, up by 4.9% in 2022, says EU Commission report

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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Greece’s economy contracted by 9.0 percent in 2020, deeper than estimate

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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Greek economy grows 16.2% in Q2 2021, compared Q2 2020, says ELSTAT

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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