Scope Ratings foresees strong econ recovery for Greece in coming 2-year period

Greece is headed towards a strong economic recovery in the coming two-year period, the German ratings firm Scope announced on Thursday, pointing to a “liberation” of accumulated consumer spending, continued monetary and fiscal boosts as well as funding emanating from the EU’s post-Covid fund.

Scopes Ratings has already forecast Greek GDP growth of 6.5 percent for the current year, and 3.6 percent in 2021.

At the same time, the ratings firm warns of a risk to the economy from the Delta variant of Covid-19 and its potential repercussions on Greece’s all-important tourism season this year.

Scopes reminds that new daily confirmed instances of Covid-19 in Greece have reached the high level of the pandemic of previous months, similar to other countries in Europe, although the fatality rate remains very low, and with roughly 45 percent of residents in Greece now fully vaccinated.