OECD: Greek Econ Growth at 2.4% This Year; 2% in 2024; 2.4% in 2025

The Greek economy is forecast to grow by 2.4 percent this year and 2 percent in 2024, before again rising again to 2.4 percent in 2025, the Organisation for Economic Co-operation and Development (OECD) revealed on Wednesday, as part of its survey report

The organization said Greece’s strong economic rebound in the post-pandemic period is being tested by surging energy and food prices as well as renewed geopolitical uncertainty.

According to survey, continued policy reforms over recent years have been a key factor driving Greece’s robust post-pandemic recovery, putting the economy in a stronger position to face current turbulence.

GDP has returned to pre-pandemic levels, the OECD said, helped by effective government support, rising tourism and exports, as well as improved investor and consumer confidence. Growth in employment has been strong, creating more than a quarter of a million new job spots, even before the pandemic. Currently, the unemployment rate in Greece is at a 12-year low, at 11.6 percent.

To sustain the recovery, the survey recommends a more efficient allocation of public spending, boosting public revenues, improving the operation of the labor market and maintaining policies to ensure a more dynamic business sector.

Source: tovima.com