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Tag Archives: growth

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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IMF outlook for Greece: Praises and recommendations

Greece’s economic outlook has improved notably with real GDP expanding beyond its pre-pandemic trend level, the International Monetary Fund (IMF) said in its staff concluding statement of the 2023 Article IV consultation mission in Athens. Greece’s economy is expected to expand by 2.5% this year due to strong domestic demand, …

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IMF: Greece’s economy to grow by 2.5% in 2023 and 2% in 2024

The Greek economy is expected to grow by 2.5% this year and by 2% in 2024, significantly exceeding average growth rates of 0.7% and 1.2% in the Eurozone, the International Monetary Fund said in its World Economic Outlook report released on Tuesday. The IMF said it expected the country’s harmonised …

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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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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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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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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 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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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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