The recovery for 2021 will exceed the 7.9% prediction of the Centre of Planning and Economic Research, said the Minister of Development and Investments, Mr. Adonis Georgiadis, at today’s event organized by the aforementioned centre for the presentation of the 3rd Annual Report of the National Productivity Council in Greece.
According to a relevant announcement of the Centre of Planning and Economic Research, the Minister of Development and Investments, firstly, clarified that in 2021 we should not talk about growth but about recovery from the strong shock of the COVID-19 pandemic. He stressed the findings of the report, emphasizing the low competitiveness and productivity of our country in relation to other eurozone countries.
In this context, he compared our country with other countries in the South Europe (Portugal and Spain), saying that, unlike Greece, these countries have taken significant steps to improve their productivity and competitiveness. He clarified that changing the productive structure of our economy is a long-term process that requires good planning and reforms.
In this direction, as he said, the assistance of the Centre of Planning and Economic Research and of the productivity council is necessary for the identification and prioritization of the intervention points for the change of the productive model of the Greek economy. Regarding the economy, he spoke of an unprecedented boom in fixed capital investment of 21.7%, much of which will come from the recovery and resilience Fund. Finally, he finished his speech by saying that the recovery for 2021 will exceed the 7.9% prediction of the Centre of Planning and Economic Research.
Latest News
Sonoco Paper Mill Plants Close After 30 Years in Greece
The shut down of the two paper mills in northern Greece comes a week after a glass plant closed in Athens
BoG: Private Deposits Down by 1.068bln Euros in Feb. 2024
Corporate deposits decreased by 912 million euros, compared to a decrease of 3.167 billion euros in the previous month
Greeks’ Buying Power Second Lowest in the EU
Greeks’ purchasing power is under pressure, ranking 26th among 27 EU member states.
Greek FinMin Says Digital Work Card Tackling Undeclared Work
Greece's recently launched digital work card aimed at tackling undeclared labor has already started to produce results, said Economy and Finance Minister Kostis Hatzidakis
MSC Cruises: More than 400 Visits to Nine Greek Destinations
MSC Cruises, a subsidiary of international shipping line Mediterranean Shipping Company S.A, will be sailing to Greek ports as of this month, expanding operations in the region year-round
Eurostat: Greece Among Cheaper Hourly Labor Cost Zones
In contrast, the countries that posted the highest hourly labor costs are Luxembourg (53.9 euros), Norway (51.9 euros), Iceland
GSEVEE: Economic Sentiment Indicator in Greece Down in Q2 2023
The drop follows a significant uptick in the ESI in the second half of 2022 (69.5 units) and a slight decline in the first half of 2023 (66.7 units)
Manpower Report: Sectors in Greece that Have Achieved Full Gender Equality in the Workplace
Greece surpasses this with 45%, showcasing progress but also room for improvement. Sectors like Consumer Goods and Services lead with 69% reporting full equality globally
Bank of America (BofA): Three Reasons Greek Economy Outperforms EC Average
BofA projects growth of 1.1% in 2024 and 1.7% in 2025, compared to forecasts for eurozone growth at 0.4%/1.1%, respectively
UniCredit: Greece’s Economy Set to Regain Momentum
This projection is based on the understanding that certain factors that hindered growth in the latter part of the preceding year, such as flood-related agricultural losses, abrupt adjustments in housing investments, and postponed public projects, were temporary setbacks