![Handelsblatt: Is Greece a growth champion?](https://www.ot.gr/wp-content/uploads/2021/04/anaptyxi-2.jpg)
Handelsblatt once again points out the beneficial role of the Recovery Fund for the Greek economy and notes: “The government wants to use the Recovery Fund to gain a broader base for the economy, which today depends heavily on tourism. The differentiation concerns sectors, which until today we would not connect with Greece: information technology, pharmaceutical industry, logistics, energy. “Greece 2.0” is the name of the investment program that the government of Athens wants to implement with money from Brussels. On July 13, eurozone finance ministers approved the Greek plan. “A historic moment for Greece, now the hard work begins,” commented Prime Minister Kyriakos Mitsotakis via Twitter, according to Deutsche Welle.
For now, however, the German newspaper stresses, Greece must face other challenges: “The pandemic is not over. It struck Greece at a particularly unfavorable moment. The country had just begun to overcome the ten-year debt crisis and the biggest recession in its post-war history, but the virus caused another collapse. In 2020, Greek GDP shrank by 8.2%. Now it is starting to recover again. “Despite the pandemic, the Greek economy had strong growth rates in the first quarter of this year.”
Among other things, Holger Schmidling, chief economist at Barenberg Bank, quotes his assessment of the Greek economy: “The confidence of international investors is rather high. The development prospects will be very good as soon as the terror of the pandemic passes and the tourist traffic is normalized “.
![ot.gr](/wp-content/themes/whsk_otgr/common/imgs/fav.ico/favicon-32x32.png)
![ot.gr](/wp-content/themes/whsk_otgr/common/imgs/fav.ico/favicon-32x32.png)
Latest News
![Cruise Industry Opposes New EU Plan for Piraeus Port](https://www.ot.gr/wp-content/uploads/2024/07/396121953_881827319967534_9198009856198617419_n-1024x793-1024x793-1-1-600x465.jpg)
Cruise Industry Opposes New EU Plan for Piraeus Port
According to the Plan, cruise ship passengers will be transported by shuttle boats from Piraeus port to the Peace and Friendship Stadium (SEF), so that they can then travel to Athens
![Greek State to Reopen 3.875% Bond on Wed.](https://www.ot.gr/wp-content/uploads/2024/07/bonds-2048x1365-1-600x400.jpg)
Greek State to Reopen 3.875% Bond on Wed.
Bond of 3.875% is set to mature on March 12, 2029
![Critical Week for Greece-Cyprus Cable](https://www.ot.gr/wp-content/uploads/2024/07/kalodio_elladas_cyprus_israil.jpeg)
Critical Week for Greece-Cyprus Cable
The study concluded that the social benefits of the interconnection, totaling 8 billion euros, far outweigh its 1.9 billion euros construction cost, resulting in a net social benefit exceeding 6 billion euros.
![Roberta Metsola Re-elected President of European Parliament](https://www.ot.gr/wp-content/uploads/2024/07/2024-07-16T110250Z_1107936467_RC2BW8AZP0U4_RTRMADP_5_EU-PARLIAMENT-2048x1366-1-600x400.jpg)
Roberta Metsola Re-elected President of European Parliament
Her second term will be for a period of two and a half years
![ELSTAT: 1.5% Increase in Business Turnover in May 2024](https://www.ot.gr/wp-content/uploads/2024/07/epixeiriseis_2-600x414.jpg)
ELSTAT: 1.5% Increase in Business Turnover in May 2024
The most significant increase in turnover in May 2024 compared with May 2023 was recorded from the enterprises of the Accommodation and Food Service Activities, sector which grew by 14.8%.
![Cosco: Container Traffic Decline at Piraeus Port Continues](https://www.ot.gr/wp-content/uploads/2024/07/olp1-scaled-1-2048x1312-1-600x384.jpg)
Cosco: Container Traffic Decline at Piraeus Port Continues
This strategic shift has diminished Piraeus's standing as a prominent Mediterranean port and a key transshipment hub post-Suez Canal.
![Gov’t Eyes Return of Power Subsidies Amid Spike in Rates](https://www.ot.gr/wp-content/uploads/2024/07/power-lines-2048x1365-1-600x400.jpg)
Gov’t Eyes Return of Power Subsidies Amid Spike in Rates
According to reports, the government will resume an electricity subsidization program, given that forecasts cite disruptions – i.e. higher rates
![ELSTAT: 6.3% Increase in Output Price Index for Agriculture and Livestock](https://www.ot.gr/wp-content/uploads/2024/07/ot_georg_PROIONTA_money-1-600x352.png)
ELSTAT: 6.3% Increase in Output Price Index for Agriculture and Livestock
The 6.3% rise in May 2024 is largely driven by an 8.8% increase in the crop output group, particularly due to changes in olive oil prices, and a 0.5% increase in the animal output group.
![Balkans Blackout Highlights Climate Threats to Power Grids](https://www.ot.gr/wp-content/uploads/2024/07/blackout-1-600x457.png)
Balkans Blackout Highlights Climate Threats to Power Grids
The surge in electricity demand during the heat wave and the power deficit in Balkan markets have driven up prices in the Greek wholesale electricity market.
![Greece in Top 4 Destinations Favored by European Tourists](https://www.ot.gr/wp-content/uploads/2021/06/ploio-600x400.jpg)
Greece in Top 4 Destinations Favored by European Tourists
Greece was selected by 5.9% of respondents who were asked where they would vacation this year, up from 5.4% in the same survey last year