Scope Ratings has revised its estimates for the growth of Greece in 2021.
According to the agency’s estimates, GDP will increase by 9.3% in 2021 (this is an upgrade over previous forecasts by 8.9%).
For 2022 the growth is estimated to be at 4.4% and in 2023 at 2.5%, while the estimates for the public debt and the deficit are revised downwards.
The debt-to-GDP ratio is estimated to fall to 198.7% at the end of 2021 (from 199.1% previously forecast) and to 192.2% at the end of 2022 and slightly below 180% by 2026.
According to the ratings agency, the significant pre-crisis surpluses have created a fiscal space to implement effective fiscal countermeasures for the pandemic. Fiscal measures during the pandemic crisis had an overall fiscal impact of 7.2% of GDP in 2021, while moderating to 1.6% of GDP this year.
The deficit is set at 9.5% in 2021 and 4.8% in 2022, with primary surpluses returning in 2023-2026.
