FinMin on Commission forecasts – The economy is showing resilience and dynamism

The forecasts of the European Commission confirm the correctness and effectiveness of the economic policy pursued in our country, said the Minister of Finance Christos Staikouras, commenting on the current Autumn Forecasts of the European Commission.

As Mr. Staikouras stressed, “the country is recovering strongly and growing sustainably, investments and exports are significantly strengthened, unemployment is shrinking, cash is kept at a safe level, public finances are managed responsibly.

In particular, the forecasts:

1st Confirm that the recovery and growth of the economy will be strong and sustainable, much stronger than the initial estimates and the European average.

Specifically, it is estimated that the Greek economy will grow at a rate of 7.1% in 2021, 5.2% in 2022 and 3.6% in 2023, when the Eurozone average is projected to be 5%, respectively. 4.3% and 2.4%.

2nd. Confirm that the pace of economic growth is sustainable, as it is based mainly on the significant increase in investment and exports.

Specifically, our country is estimated to show double-digit increase in investment in 2021 and 2022, the second highest in Europe.

At the same time, it is projected to show the highest growth rate of exports, in 2021, 2022 and 2023, across Europe.

3rd Confirm that unemployment has fallen sharply over the past two years, despite the unprecedented health crisis, and is projected to continue to decline.

4th. They confirm that annual inflation, both in 2021 and 2022, is projected to remain at the lowest level among all European Member States.

Therefore, despite the prolonged uncertainty and the new challenges, the Greek economy has shown resilience and dynamism.

“The Greek government will continue to implement policies so that the country emerges from successive, external crises, economically even more resilient, nationally even stronger, and socially even more just.”