Tag Archives: growth

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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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 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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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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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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The Greek economy will fall to zero growth this year while it will show a significant divergence from fiscal targets for the year, the Bank of Greece said in its annual report on the Greek economy, presented on Friday. The report noted that the smooth course of the economy was …

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Greece’s economy grew by 1.9% in 2019, with the country’s Gross Domestic Product totaling 194.4 billion euros from 190.8 billion in 2018, Hellenic Statistical Authority said on Friday. The statistics service, in a report, said that Greek GDP fell 0.7 pct in the fourth quarter of 2019 from the third …

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Greek Prime Minister Kyriakos Mitsotakis has hailed the historicrecord-breaking yield for the 10-year bond, yield that fell below 1 percent on Wednesday. In a tweet on the his prime minister’s account, Mitsotakis said that “Greece is now on a growth trajectory,” making the country a “great opportunity for global investors.” …

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The European Commission released the European Semester 2019 Spring Package with recommendations for all Member States in order to advance sustainable and inclusive economic growth. On its 7-page long report on Greece, the Commission notes that “Greece is currently in the preventive arm of the Stability and Growth Pact and …

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Tourism growth in the last four years has helped Greece exit the bailout agreements, said Tourism Minister Elena Kountoura. Tourism has attracted more than 400 investment projects, she added. Speaking to state news agency amna, Kountoura said “This great tourist development with growth over 35 percent in the last four …

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The Bank of Greece on Monday lowered growth prospects for 2019 to 1.9 percent, from a previous forecast of 2.3%. It said that the country’s GDP grew by 1.9% in 2018, down from an initial 2.1 pct growth rate. The state budget envisages a growth rate of 2.5 pct this …

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The International Monetary Fund (IMF) has revised its growth projections for Greece in 2019. The IMF is more optimistic about  the growth pace and estimates upwards to 2.4%, from 1.8% in its April projections. It keeps unchanged its estimation for 2018 at 2%. This forecast is revised upwards by + …

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The Greek government’s master plan to restore growth, after it emerges from eight years under harsh bailout conditions this August, revolves around a key factor that could jump start its economy: its banks. Prime Minister Alexis Tsipras will present to his cabinet on Monday at 1 p.m. in Athens the …

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The European Commission Spring Forecast has revised down Greece’s growth in 2018 to 1.9% from 2.5% and for 2019 to 2.3% from 2.5%. The revision followed a smaller than expected growth rate last year. For next year, the EC projects a 2.3 percent growth rate for Greece, lower than its …

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“The markets anticipate a successful exit from the bailout agreements as virtually certain and our development plans aim at a comprehensive plan that will be credible for the markets and Greek society,” Finance Minister Euclid Tsakalotos said on Tuesday in an interview with ‘Efimerida Ton Syntakton‘ newspaper. He explained that the …

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Greece recorded the lowest growth rate in 2017 among the EU member-states, according to the  annual report of the European Central Bank released  on Monday. The Greek GDP amounted to 1.4%, compared with a 2.3% average in the eurozone, while Ireland’s figure stood at 5%. According to the report, the …

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Greece's economy grew for a fourth straight quarter in October-December, driven by stronger investment spending, but the pace was slower than in the previous quarter, the statistics service ELSTAT said on Monday. Seasonally adjusted data showed gross domestic product rose 0.1 percent in the fourth quarter of 2017, the expansion …

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The Fitch ratings agency on Friday upgraded Greece’s sovereign debt grade, citing budget surpluses, greater political stability and the growing economy. The agency raised the debt rating one notch to ‘B’ from ‘B-,’ leaving the country in the “highly speculative” category but with a positive outlook. The decision followed a …

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Greece’s independent statistics agency ELSTAT said the country’s economy grew by 1.3 percent on the year in the previous quarter, failing to meet ambitious growth expectations from the government and European Union. Without a revision, the July-September growth figure announced Monday suggests that Greece could miss its target of annual …

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Greece’s government submitted the Budget 2018 to the Parliament late Tuesday. The Budget 2018, the last ‘bailout’ budget, targets a record primary surplus of 3.82 percent of GDP and a stunning growth rate of 2.5%. How will these will be possible? With 2.2 billion euros in new taxes and welfare …

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