“We raise our GDP forecast for 2021 to 7.9% with strong performance in the second quarter,” says UBS
The economic recovery proceeded much faster than expected in Greece, UBS said in a report, noting that GDP is recording the strongest course in the last 20 years.
The report notes that GDP had fully recovered from the pandemic shock by the second quarter of 2021. It therefore revised its year-on-year forecast from 6.6% to 7.9% in 2021. For 2022 it “sees” growth of 6% compared to a previous forecast of 5%.
According to UBS, the available data show a continuous recovery of activity in the third quarter. Google mobility data show that there was a sharp increase in activity in July, August, and September.
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As tensions escalate, the EU is expected to continue negotiations with Washington while preparing for potential economic retaliation.
The Likely Impact of Trump Tariffs on Europe and Greece
Trump tariffs are expected to negatively affect economic growth in the Eurozone while Greece's exports could take a hit.
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Adjusted EBITDA for 2024 was down 33% yoy. The adjusted profit after tax for 2024 stood at 504 million euros, a 43% decrease from the previous year
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Inflation in Greece at 3.1% in March, Eurostat Reports
Average inflation in the eurozone settled at 2.2%, compared to 2.3% in February
Greece’s Unemployment Rate Drops to 8.6% in February
Despite the overall decline, unemployment remains higher among women and young people.
Jerry Kalogiratos Highlights Key Role of Energy Transition and Data Demand in LNG Outlook
Energy transition and the prospects of LNG were discussed at Capital Link’s 19th Annual International Maritime Forum, during a panel discussion with Jerry Kalogiratos (Capital Clean Energy Carriers Corp.)
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