Greece’s economic momentum is expected to continue in the new year, with GDP growth forecast to hover at 2.5%, modest by most respects but still higher than projections for other European and Eurozone economies.
A post-pandemic recovery was more-or-less highlighted with last week’s designation by the Economist of Greece as its “Country of the Year” for 2023.
The forecast for investments in the east Mediterranean country points to an increase of 15.1% in 2024, compared to an increase of 7.1% between 2022 and 2023. Mergers and acquisitions increased from 4.1 billion euros in 2020 to 10.4 billion euros in 2022, with market analysts saying the country has now shaken off its previous status as a “magnet” for purchases of NPL portfolios and is instead attracting more “real economy” capital. Since 2017, some 50 international transactions have been recorded in the NPL secondary sector, related to bundles of non-performing loans with a nominal value of 90 billion euros.
Some of the most prominent corporate investors in the country over the past few years include Amazon, Google and Microsoft, along with state investment funds.
Reforms
“A return of trading activity in capital markets in the second half of 2023 and the series of upcoming deals in subsequent quarters further strengthen Greece’s investment potential,” according to Dimitris Athanasopoulos, a founding partner of Axia Ventures Group, who spoke recently at a Capital Link investment conference in New York City.
“It’s particularly encouraging that a large part of Greece’s growth is based on capital investment, whereas concerns about the Eurozone economy remain there are fewer reservations about Greece, as it’s in a different part of the economic cycle,” Anastasios Astyfidis, the founder and CEO of Ambrosia Capital, underlined.
“In recent years, Greece has implemented a series of structural reforms with the aim of creating a more flexible and diversified economy, alongside greater competitiveness, all with the aim of sustainable growth,” Alex Fotakidis, a CVC partner and the head of CVC Greece, said.
Source: tovima.com
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
RES: Large Companies Buying PPAs in Greece
Power Purchase Agreements (PPAs) are long-term contracts between renewable energy producers and large corporations seeking to secure electricity at stable prices in a sustainable manner.
School Closures, Ships Docked Amid Bad Weather in Greece
Severe weather in Greece causes school closures and sailing bans. Strong winds, snowfall, and icy conditions disrupt daily life and travel on Tuesday.
Greece to Proceed with Issuance of 10-Year Bond
Regarding Greece's public debt the Agency forecasts that it will continue its downward trend, recording a total reduction of around 56%.
Labor Shortage in Greece: Vacant Job Positions Costing the Economy Millions
Data show that specific sectors are facing particular challenges in filling job positions, with the primary sector struggling to find working hands.
e-EFKA: “Thaleia” Answers Policyholders’ Questions
It is a service provided by the organization, aimed at enhancing the experience for individuals with special needs.
PM Mitsotakis Outlines 2025 Goals for Growth and National Interests
"The government’s work will remain intense and multifaceted, so that day by day, something changes and the lives of all citizens become better," the prime minister stated
Tender for Repairs on Athens Olympic Stadium’s (OAKA) Iconic Roof
Tender for OAKA project, which is expected to exceed 78 million euros, stipulates that repairs, maintenance must be conducted while venue remains open for events
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.
