Greek Economy Shows Resilience, Consumer Confidence Remains a Challenge
Therefore, there is need for policy interventions in order to boost demand, stabilize the labor market and support industrial production
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Πέμπτη 21 Νοεμβρίου 2024
22 oC Greek economy
European Commission’s Outlook for Greece Economy Forecasts 2.1% Growth and 3% Inflation in 2024
By 2026, the reduction in public debt is expected to bring it close to 140% of GDP.
Greek State Budget Primary Surplus at €13.489bln Jan.-Oct. 2024
A significant part of this surplus is attributed to the receipt of €3.2 billion in October from the new concession agreement for the Attiki Odos
Greece Needs Reforms for Ratings Upgrade
Fitch is expected to release its evaluation of the Greek economy on Nov. 22, with a possible scenario being an upgrade of the economy from “stable” to “positive”
Greek Economy Bounces Back Impressively, German Handelsblatt Reports
Once at risk of default, Greece has made notable progress in debt reduction over the past few years
Greek Economy Faces Pressing Challenges Amid Global Uncertainty
Major issues that are expected to intensify if not addressed, include the high current account deficit, the substantial investment gap, low productivity, and the question of long-term growth
ELSTAT Revised Greek GDP Growth Upward for 2023
GDP at constant prices reached €196.984 billion in 2023, up from €192.495 billion in 2022, ELSTAT said
Greek Draft Budget Tabled on Oct. 7, Amid Concerns Over Mid. East War
A major issue of concern is how the Israel-Iran conflict will play out with pundits projecting a surge in oil prices
Greek Economy Expands 2.3%, Boosting Growth Outlook Through 2028
For 2024, the growth rate of the Greek economy is now expected to reach 2.14%, up from the previous estimate of 2.09%
Greece’s Economy Awaits Moody’s Upgrade Rating
At present, Moody’s rates Greece at Ba1, one notch below investment grade, with a stable outlook for reassessment.
Wood & Co. Monitors Greece’s Economic Growth amid Natural Disaster Risks
They estimate the current potential GDP growth around 3%, supported by robust private sector finances and a stable public sector budget, which helps keep borrowing costs in check
Morningstar DBRS Upgrades Greek GDP for 2024 to 1.6%
The Canada-based credit rating agency, however, lowered its GDP prediction to 2.2% for 2025
Greece’s Economic Revival Draws Investors
Both foreign and domestic investors are seizing the moment, ushering in a wave of significant deals across various sectors like banking, technology, food, energy, logistics, and hospitality.
Greek GDP to Reach 2.1% in Q1 2024
The available non-seasonally adjusted data indicate that in the 1st quarter of 2024 the Gross Domestic Product (GDP) in volume terms increased by 1.9% in comparison with the 1st quarter of 2023
Eurostat: 3.2% Annual Inflation in Greece in April
The data shows that Greece ranks seventh in overall inflation within the eurozone and second in food inflation
HSBC, Goldman Sachs Positive on Greek Economy
Goldman Sachs sees an upgrade of the Greek stock market
OECD: Greek Economy Resilient with 2% Growth Forecast for 2024
However, the OECD highlights challenges including the need to enhance productivity and fiscal adjustment due to high debt levels.
Reuters: Greek Economy Surges After Decade of Pain
Nevertheless, the article also highlights some of the challenges facing the country, with a falling birthrate and labor shortages posing a threat to the long-term outlook
Alpha Bank: Greeks Optimistic about their Economic Situation
As the analysis notes, the long-term trend of household forecasts for their economic situation and unemployment is favorable, reaffirmed by their intentions for significant purchases and savings
Bank of Greece: Economic Growth of 2.3% in 2024 and 2.5% in 2025
Investments and private consumption are expected to be the key drivers of economic activity in the coming years
KEPE: Greek GDP to Grow by 2.2% in 2024
KEPE underlines that the implementation of important reforms and investments through the utilization of funds from the Recovery and Resilience Facility and the new ESPA also play a role in the more positive outlook of the country’s economy
Piraeus Bank: Greece on a Better Developmental Trajectory Compared to Europe
In contrast, the Eurozone faces persistent challenges as evidenced by stagnant growth in the fourth quarter of 2023, registering a mere 0.1% annual increase
Greek Economy: Concerns Rise as Foreign Direct Investments Plunge by 40%
However, concerns arise as milestones now involve not only reforms and legislation but also project assignments, highlighting the government's lack of readiness in many cases
Stelios Papadopoulos (JP Morgan): Greece’s Financial Growth Attracts Investors
This interest extended to new domains such as agri-food, technology, and healthcare, in addition to the more traditional sectors.
IMF Foresees Marginal Improvement in Greek Economy
The IMF predicts a real GDP growth of 2.3% in 2023 (revised from the previous 2.5%) and 2.1% in 2024 (revised from 2%)
JP Morgan: ‘Long’ Position on Greek 10Y Bonds
It should be recalled that the American investment bank had initially recommended a long position in Greek 10-year bonds in December (18/12)
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