EBRD updated forecasts: Greek econ growth at 5.2% in 2022; dropping to 1.5% in 2023

High natural gas prices and persistent inflation continue to dampen economic prospects, the European Bank of Reconstruction and Development (EBRD) opined on Thursday, in updating its forecasts for regional economic projections.

The more-or-less obvious observations come with a forecast of global economic growth of 2.1 percent in 2023, down from 3 percent initially forecast last September.

Specifically for Greece, the EBRD predicted that GDP growth last year totaled 5.2 percent, easing to 1.5 percent this year and then climbing back by 3 percent in 2024 – figures that are reduced by 0.5 and 0.7 percent, respectively, from last September.

The updated report shows revisions, downward, for more than half of the 36 economies surveyed by the ERBD, with few revisions upwards.