The European Bank for Reconstruction and Development (EBRD) on Wednesday forecast a strong economic performance by Greece during the ongoing year, projecting GDP growth at 2.4 percent for 2023 and easing slightly to 2.3 percent in 2024.
Europe’s development bank added that robust economic growth in the east Mediterranean country requires the appropriate use of capital from the EU’s recovery and resilience fund.
The EBRD said a slower growth rate, compared to the previous two-year period, is offset by a strong increase in exports, higher private consumption and a hike in investments. Additionally, the EBRD cited the prospect of another record-breaking year for Greece’s all-important tourism sector in 2023.
Other highlights are a steadily improved PMI index (52.9 points in August 2023) and ESI index (111.7 points last month, a 17-month high), which shows a solid confidence in the economy.
EBRD said unemployment continues to decrease in the country – 10.8 percent in July 2023 – and a rise in exports, by 8.9 percent on an annual basis during the first quarter of 2023 – the latter of which allays concerns over a widening current accounts balance, which totaled 9.7 percent of GDP in 2022.
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
Louis-Dreyfus Family Eyes 21% Stake in Thessaloniki Port
The newly created Amsterdam-based LeonidsPort company has submitted a voluntary public offer for 21%
EUIPO Throws Out Turkaegean Trademark
The trademark had been filed by the Türkiye Tourism Promotion and Development Agency (TGA) in 2021 and immediately generated heated opposition by Athens
Economic Sentiment Indicator in Greece Drops Slightly in Dec.
The data revealed that the primary drivers of the slight drop were the industrial and retail trade sectors. Conversely, construction and consumer confidence improved.
Greece’s Trade Deficit Surges by 18.7% in Nov. 2024
For the first 11 months of 2024, the total value of imports reached 77.3793 billion euros, a 1.9% rise compared to 75.9482 billion euros in the same period of 2023.
Installing EV Chargers in Your Building is Harder than You Think
So, you just bought an EV in Greece and can’t wait to set up a charger in your apartment building’s parking space? Not so fast—there are a few hurdles you’ll need to clear first.
Greece Announces Grants to Unemployed for New SMEs
Unemployed individuals seeking 12-month grants to fund the creation of new SMEs can apply online until January 21.
Port of Piraeus Reports Record-breaking Year for Cruise Sector
First cruise ship of the season, Viking Saturn, greeted at Greece's largest, busiest port
Greek Energy Minister Skylakakis Announces Subsidies to Mitigate Electricity Prices
“When prices exceed a certain threshold, we intervene,” said Skylakakis
Mitsotakis: Greece is a Beacon of Stability in an Unstable World
Greek Prime Minister Kyriakos Mitsotakis described Greece as a "beacon of stability in an unstable world" following the Epiphany water blessing ceremony at Dexameni Square in Athens.
The Life of Former Prime Minister Kostas Simitis
Former Minister Kostas Simitis played a defining role in shaping Greece’s economic and political landscape at the turn of the millennium
