![Greek Econ Momentum Expected to Continue in 2024](https://www.ot.gr/wp-content/uploads/2023/12/bonds-2048x1365-1.jpg)
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
![ot.gr](/wp-content/themes/whsk_otgr/common/imgs/fav.ico/favicon-32x32.png)
![ot.gr](/wp-content/themes/whsk_otgr/common/imgs/fav.ico/favicon-32x32.png)
Latest News
![Gov’t Eyes Return of Power Subsidies Amid Spike in Rates](https://www.ot.gr/wp-content/uploads/2024/07/power-lines-2048x1365-1-600x400.jpg)
Gov’t Eyes Return of Power Subsidies Amid Spike in Rates
According to reports, the government will resume an electricity subsidization program, given that forecasts cite disruptions – i.e. higher rates
![ELSTAT: 6.3% Increase in Output Price Index for Agriculture and Livestock](https://www.ot.gr/wp-content/uploads/2024/07/ot_georg_PROIONTA_money-1-600x352.png)
ELSTAT: 6.3% Increase in Output Price Index for Agriculture and Livestock
The 6.3% rise in May 2024 is largely driven by an 8.8% increase in the crop output group, particularly due to changes in olive oil prices, and a 0.5% increase in the animal output group.
![Balkans Blackout Highlights Climate Threats to Power Grids](https://www.ot.gr/wp-content/uploads/2024/07/blackout-1-600x457.png)
Balkans Blackout Highlights Climate Threats to Power Grids
The surge in electricity demand during the heat wave and the power deficit in Balkan markets have driven up prices in the Greek wholesale electricity market.
![Greece in Top 4 Destinations Favored by European Tourists](https://www.ot.gr/wp-content/uploads/2021/06/ploio-600x400.jpg)
Greece in Top 4 Destinations Favored by European Tourists
Greece was selected by 5.9% of respondents who were asked where they would vacation this year, up from 5.4% in the same survey last year
![Scope Affirms Greece’s BBB- Ratings; Revises Outlook to Positive](https://www.ot.gr/wp-content/uploads/2024/06/euros-2048x1365-1-600x400.jpg)
Scope Affirms Greece’s BBB- Ratings; Revises Outlook to Positive
The international ratings firm raised Greece to investment grade in early August 2023
![First Seaplane Test Flights to Skopelos, Alonissos, Skyros](https://www.ot.gr/wp-content/uploads/2024/06/hellenic-seaplanes-pilotikes-ptiseis-ydatino-pedio-lavriou-600x450.jpeg)
First Seaplane Test Flights to Skopelos, Alonissos, Skyros
After decades of on-again, off-again efforts to schedule regular seaplane routes to Greece's numerous island and coastal destinations the prospect now appears within sight
![ELSTAT- Overall Import Price Index for May 2024 up 2.8% y-o-y](https://www.ot.gr/wp-content/uploads/2023/08/unnamed-41.jpg)
ELSTAT- Overall Import Price Index for May 2024 up 2.8% y-o-y
The same price index had decreased 20.8% from May 2022 to May 2023
![Over 7 in 10 Employees Feel Their Contributions Are Not Appreciated](https://www.ot.gr/wp-content/uploads/2024/06/ergasia-ergazomenos-600x300.jpg)
Over 7 in 10 Employees Feel Their Contributions Are Not Appreciated
Specifically, the option "Subjective opinions are prioritized over objective data" ranked highest in importance for young employees, with a score of 3.89 out of 4
![OECD: Job Vacancies on the Rise in Greece](https://www.ot.gr/wp-content/uploads/2024/07/ergasiabusinness-768x556-1-1-600x434.jpeg)
OECD: Job Vacancies on the Rise in Greece
By the fourth quarter of 2023, job vacancies per unemployed person had risen by more than 4, with the index reaching 446 units compared to 100 units in late 2019
![OTE Group: FTTH Program Advancing in Semi-Urban and Rural Areas of Greece](https://www.ot.gr/wp-content/uploads/2024/05/ΟΤΕ-Group_1-600x450.jpg)
OTE Group: FTTH Program Advancing in Semi-Urban and Rural Areas of Greece
This initiative will provide ultra-fast internet speeds of up to 1Gbps to over 350,000 households and businesses in semi-urban and rural areas across the country