IMF revises forecast for Greek econ growth in 2023 to 2.6%, up from 1.8%

The International Monetary Fund (IMF) on Tuesday revised, upwards, its forecast for the Greek economy this year, to 2.6 percent, up from its autumn forecast of 1.8 percent in October 2022.

The Washington D.C.-based Fund also said the Greek economy was expected to grow by 1.5 percent in 2024, up from a forecast of from 1.4 percent.

The IMF, in its spring World Economic Outlook report, said the revised growth forecast will allow the continuation of falling unemployment, to 11.2 percent this year and 10.4 percent in 2024, down from 12.2 percent in 2022.

The inflation rate is projected to fall significantly to 4.0 percent this year, and to 2.9 percent in 2024, down from 9.3 percent, on average, in 2022.

The country’s current account deficit is expected to fall to 8 percent of GDP this year, down from 9.7 percent in 2022, and 6 percent of GDP in 2024.