“The utilization of national and European funding can make Greek industry more ‘cyclical’ and contribute to changing the production model of the Greek economy”, emphasized the president of the Federation of Greek Industries, Loukia Sarantis, during her intervention today at the 1st Forum Circular Economy FORWARD GREEN organized by TIF – HELEXPO (June 8 to 10, 2023).
During a discussion on investments in the “circular economy” sector in Greece, Ms. Saranti highlighted the “gap” in investments in the “circular economy” sector in our country. According to official data, investments in sectors that fall under the scope of the “circular economy” amount to just 0.02% of GDP in Greece, while the average in the European Union is 0.12%. In this context, he precisely underlined the important development prospects for the industry from the adoption of the principles of the circular economy in the coming years.
Cyclical economy actions
Ms. Sarantis then stated that the industry has realized the significant prospects and the opportunity to gain a significant competitive advantage from the adoption of the principles of the “cyclical economy“. For this reason, many companies – mainly large ones – have included relevant adaptation actions in their business strategy, so that they become more circular”. Such actions are: the development of synergies with other companies, the education and training of personnel, the adoption of “good practices” from other companies and the implementation of investments in equipment.
Finally, Ms. Sarantis suggested the need to promote the benefits for businesses and society from the adoption of the principles of the circular economy, with the aim of changing everyone’s attitude to the new data and for the fastest possible implementation of investments in the “circular” sector economy..
Latest News
ELSTAT: Greek Health Expenditures Reach €5.89 Billion in 2022
Finally, healthcare financing as a percentage of GDP decreased to 8.5% in 2022 from 9.18% in 2021, as per the Health Accounts System report.
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