
The Bank of Greece (BoG) has revised, upwards, its forecast for Greek economic growth this year, with the development included in the central bank’s annual report, presented by Gov Yannis Stournaras on Friday.
Specifically, the BoG forecasts that the Greek economy will grow by 2.2 percent in 2023, while the inflation rate will east to 4.4 percent, on an annual basis.
The Greek state budget is expected to record a primary surplus of 0.7 percent.
Stournaras, however, stressed that the economy faces challenges and risks, mainly due to a deteriorating external environment but also from the prospect of a prolonged pre-election period in Greece. A general election will be held on Sunday, May 21.
Stournaras added that the Greek economy has exhibited notable progress.
In 2022, Greek GDP grew by 5.9 percent, exceeding the pre-pandemic levels in absolute terms.
Foreign investment inflows in the last two years reached a 20-year record, reflecting renewed confidence in the outlook of the Greek economy. The inflation rate reduced household incomes, but the unemployment rate fell below 2010 levels thanks to reforms which boosted flexibility in the labor market. The current account deficit grew to 9.7 percent of GDP in 2022, but this development was attributed to temporary factors, Stournaras said, adding that exports have doubled compared with 2010. The national debt was at 171.4 percent of GDP, down 35 percentage points from 2020.
Stournaras said 2022 budget targets have been achieved and that the primary deficit will be nearly eliminated. Commenting on the banking sector, he said the return of banks to profitability was remarkable.
“The banking sector is in a better position to absorb any turbulence from international markets”, he underlined.
The entire report is here: https://www.bankofgreece.gr/en/news-and-media/press-office/news-list/news?announcement=77da98c8-4ed6-4d98-a9a9-b6f3e0b538c3


Latest News

IMF: US Tariffs Shake Global Economy, Outlook Downbeat
IMF slashes global growth forecast to 2.8% as U.S. tariffs create uncertainty and ‘negative supply shock

First Step Towards New Audiovisual Industry Hub in Drama
The project is set to contribute to the further development of Greece’s film industry and establish Drama as an audiovisual hub in the region

Airbnb Greece – Initial CoS Ruling Deems Tax Circular Unlawful
The case reached the Council of State following annulment applications filed by the Panhellenic Federation of Property Owners (POMIDA)

Mitsotakis Unveils €1 Billion Plan for Housing, Pensioners, Public investments
Greek Prime Minister Kyriakos Mitsotakis has announced a new set of economic support measures, worth 1 billion euros, aiming to provide financial relief to citizens.

Alter Ego Ventures Invests in Pioneering Gaming Company ‘Couch Heroes’
Alter Ego Ventures' participation in the share capital of Couch Heroes marks yet another investment by the Alter Ego Media Group in innovative companies with a focus on technology.

Corruption Still Plagues Greece’s Driving Tests
While traffic accidents continue to claim lives on Greek roads daily, irregularities and under-the-table dealings in the training and testing of new drivers remain disturbingly widespread

Pope Francis Died of Stroke and Heart Failure Vatican Confirms
As news of the official cause of death spread, tributes poured in from across the globe. The 1.4 billion-member Catholic Church is united in grief, remembering a pope who championed inclusion, justice, and compassion

Increase in Both Museum Visits, Revenues for 2024
As expected, the Acropolis was the top archeological site in the country, followed by Sounion, Mycenae, the ancient theater of Epidaurus, and Vergina in northern Greece

Where Greece’s Tourists Come From: A Look at 2025’s Top Visitor Markets
The United Kingdom continues to hold the top spot as the largest source of incoming tourism, with 5.6 million seats booked for Greece this summer — up 2.2% from last year. This accounts for 20% of all international air traffic to Greece

Pope Francis: A Pontiff Who Reshaped the Papacy and Sparked a Global Conversation
His first words from the balcony of St. Peter’s Basilica—“Brothers and sisters, good evening”—set the tone for a pontificate that would challenge norms, favor mercy over dogma, and bring the papacy closer to the people.