![Morningstar DBRS Upgrades Greek GDP for 2024 to 1.6%](https://www.ot.gr/wp-content/uploads/2024/06/greece_euro_web-thumb-large-600x375-1.jpg)
Global credit rating agency Morningstar DBRS has upgraded its estimation for Greek economic growth for 2024 to 1.6% in its analysis.
Despite the favorable forecast for the current fiscal year, the Canada-based credit rating agency lowered its GDP prediction to 2.2% for 2025, according to its new global economic forecasts, while it also expects a faster decline in the unemployment rate to 10.1% this year and even further to 9.2% in 2025.
DBRS’s analysis notes that growth forecasts for almost all major economies have improved over the past three months, with the median growth forecast for the U.S. in 2024 upgraded to 2.4%. The Canadian economy faces more challenges, but forecasts have also slightly improved to 1%.
Major European economies show weak growth prospects, the analysis posits, but the average forecasts for the UK, Spain, Italy, France, and Germany have significantly improved since March. Forecasts for China have also improved by 0.4 percentage points to 5%, while growth forecasts for Japan have decreased by 0.3 percentage points to 0.4%.
Ongoing geopolitical tensions, electoral uncertainty in key economies, and prolonged risks from commercial real estate could further deteriorate the outlook as we enter the second half of the year, DBRS reports.
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
![Evangelos Marinakis on Shipping, the Environment, Technology and Football](https://www.ot.gr/wp-content/uploads/2024/07/Marinakis_New_York_01-600x400.jpeg)
Evangelos Marinakis on Shipping, the Environment, Technology and Football
During Marine Money Week in New York, Evangelos Marinakis talked about shipping, protecting the environment and passion for football
![Greece in Top 3 Cruise Travel Destinations in the Mediterranean](https://www.ot.gr/wp-content/uploads/2024/07/cruise-600x360.jpg)
Greece in Top 3 Cruise Travel Destinations in the Mediterranean
Regarding the nationality of visitors, the United States holds first place
![Santorini: Overcrowding due to Infrastructure Fails not Overtourism](https://www.ot.gr/wp-content/uploads/2022/08/santorini-4429797_960_720-600x399.jpg)
Santorini: Overcrowding due to Infrastructure Fails not Overtourism
Santorini Hoteliers Association President Antonis Pagonis told British media that, "we, as hoteliers of a welcoming island, say yes to any form of tourist activity, but obviously with limits."
![Olive Oil Prices Rise, Sales Drop across the Globe](https://www.ot.gr/wp-content/uploads/2023/09/olive-oil-600x391.jpg)
Olive Oil Prices Rise, Sales Drop across the Globe
Greece, of the leading olive oil producers, harvested 120,000 metric tons of olives in 2023, less than half of the previous crop
![Deadline Extension for Declarations of Unkempt Land Plots](https://www.ot.gr/wp-content/uploads/2024/05/oikopeda1-600x450.jpg)
Deadline Extension for Declarations of Unkempt Land Plots
Over 189,500 declarations have been submitted in the last 4 days, according to a statement released by the Ministry
![GREGY’ Project Takes Center Stage at EU-Egypt Investment Conf.](https://www.ot.gr/wp-content/uploads/2024/06/ypogeio-kalodio-600x347.jpg)
GREGY’ Project Takes Center Stage at EU-Egypt Investment Conf.
The GREGY project aims to bring an underwater cable from Egypt to Greece to transport electricity generated in Egypt, through renewable sources, to Europe
![Gek Terna CEO: 3bln€ Deal With Masdar Will Boost Group](https://www.ot.gr/wp-content/uploads/2024/06/terna-2048x1366-1-600x400.jpg)
Gek Terna CEO: 3bln€ Deal With Masdar Will Boost Group
“We are preparing for new projects both in Greece and abroad" he added
![Greece Expands List of Protected ‘Unspoiled Beaches’ to 238](https://www.ot.gr/wp-content/uploads/2024/06/italida-beach-ano-koufonisi-600x406.jpg)
Greece Expands List of Protected ‘Unspoiled Beaches’ to 238
Adjustments were also made to ensure existing citizen rights, such as those of adjacent businesses, were not affected
![Report: 80% Greek Businesses Prioritize Digital Transformation](https://www.ot.gr/wp-content/uploads/2024/06/digi-600x345.jpeg)
Report: 80% Greek Businesses Prioritize Digital Transformation
The survey included 240 representatives from businesses across 15 sectors of the Greek market.
![Eurostat: Greeks Least Satisfied in EU with Amount of Free Time](https://www.ot.gr/wp-content/uploads/2024/06/SNS_9034-600x400.jpg)
Eurostat: Greeks Least Satisfied in EU with Amount of Free Time
The 2022 Eurostat data also reveals that satisfaction with free time is inversely related with having children at home and higher education levels