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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OECD: Strong economic recovery but growth slow down in 2023/24
The recovery of the Greek economy from the Covid-19 crisis was strong, supported by the continuation of reforms, the Organisation for Economic Cooperation and Development (OECD) said in an Economic Survey on Greece which was presented by OECD Secretary-General Mathias Cormann alongside Greek Primer Minister Kyriakos Mitsotakis on Tuesday. The …
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State of Greek economy better than in other EU countries, says FinMin
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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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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FinMIn: “2022 will be a record year for foreign direct investment in Greece and exports
“The year 2022 will be one of historic records for both foreign direct investment in Greece and for exports,” Finance Minister Christos Staikouras said on Tuesday. Staikouras was speaking t the “Naftemporiki” conference entitled “Greek Economy & Entrepreneurship: Challenges and Opportunities in an Unpredictable Future!” Referring to the performance of …
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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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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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Greek economic growth to exceed EU average rate, Commission report says
Economic growth in Greece will exceed the EU average in 2022, but the inflation rate will remain high, the European Commission said in its summer 2022 Economic Forecast report released on Thursday. More specifically, the report said that Greece kept its momentum in the first quarter of 2022, with real …
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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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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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Bank of Greece governor predicts GDP growth over 6% in 2021
Bank of Greece governor Yannis Stournaras appeared even more optimistic about the future of the Greek economy than the government in an interview with Politico on Tuesday. Stournaras estimated that GDP growth in 2021 will exceed 6 percent. In fact, he predicted that the country’s GDP at the end of …
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Greek PM at TIF: Growth revised to 5.9%, more Rafale, 50GB free for vaccinated teens
Greece’s economy will grow 5.9% during 2021, far more than the original 3.6% estimate, Prime Minister Kyriakos Mitsotakis said Saturday at the at the Thessaloniki International Fair, where heads of government traditionally announce the coming year’s economic policies and relief measures for the society. Mitsotakis justified the growth revision based …
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Greek economy to grow by 3.5%-4.0% this year, says Greek think tank IOBE
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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Investment spending in Greece fell 6.9% in 2020, to grow by 2.8% in 2021
Investment spending in the manufacturing sector fell 6.9% in 2020 compared with the previous year, the Foundation for Economic and Industrial Research (IOBE) said in a report on Monday. The survey on industrial investments in the period October-November 2020 showed that investment spending in the manufacturing sector is expected to …
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Greek economy to grow by 3.5% in 2021 and 5% in 2022, say EU Commission report
The Greek economy will grow by 3.5% in 2021 and 5.0% in 2022, the European Commission said in its winter economic forecasts released on Thursday. In the report, the EU’s executive said economic recovery will continue, supported mostly by private consumption due to a gradual reopening of retail commerce, improving …
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IMF on Greece: Weak recovery in 2021, unemployment 20%, primary surpluses from 2022
Greece will return to primary surpluses from 2022 after reporting higher primary deficits and public debts in 2020, the International Monetary Fund said its Fiscal Monitor report released on Wednesday. The IMF based its 2020 forecasts on the belief that political interventions to manage the pandemic have led to a …
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Greece’s draft budget: Economy to grow by 7.5% in 2021, shrink by 8.2% in 2020
Greece’s economy will contract by an estimated 8.2% this year due to the effects of the coronavirus pandemic before picking up next year, the government said Monday as it submitted its 2021 draft budget to parliament. The 2021 budget was “drawn up in an environment of unprecedented uncertainty, due to …
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“Pissarides draft report”: 14 proposals for Greece’s development policy
The Greek government released for public consultation on Monday the preliminary draft of the road map for the development of the Greek economy prepared by the “Pissarides Commission.” Main goal is to boost productivity, increase exports, better connect production with technology and innovation, and support labor. He stressed that several …
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EU Commission projects recession in Greece at 9% in 2020
The Greek economy is projected to contract by 9% this year and to grow by 6% in 2021, the European Commission said in its Summer Economic Forecast report released on Tuesday. The EU executive said that Greece’s GDP declined by 1.6 pct in a quarterly basis in the first quarter …
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