The European Bank for Reconstruction and Development (EBRD) on Wednesday forecast a strong economic performance by Greece during the ongoing year, projecting GDP growth at 2.4 percent for 2023 and easing slightly to 2.3 percent in 2024.
Europe’s development bank added that robust economic growth in the east Mediterranean country requires the appropriate use of capital from the EU’s recovery and resilience fund.
The EBRD said a slower growth rate, compared to the previous two-year period, is offset by a strong increase in exports, higher private consumption and a hike in investments. Additionally, the EBRD cited the prospect of another record-breaking year for Greece’s all-important tourism sector in 2023.
Other highlights are a steadily improved PMI index (52.9 points in August 2023) and ESI index (111.7 points last month, a 17-month high), which shows a solid confidence in the economy.
EBRD said unemployment continues to decrease in the country – 10.8 percent in July 2023 – and a rise in exports, by 8.9 percent on an annual basis during the first quarter of 2023 – the latter of which allays concerns over a widening current accounts balance, which totaled 9.7 percent of GDP in 2022.
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
Youth Pass applications extended until December 12: Greek Prime Minister
Young people taxed in Greece and who have turned 18 or 19 are eligible to apply
Second Grid-Connecting Greece-Turkey Power Line Eyed for 2029
The new power line will run for 130 kilometers, of which 70 will be in Greece.
Greece-Turkey Relations: Erdogan Hints at Nuclear Cooperation
The Greek Ministry of Environment and Energy declined to comment on the latest remarks by Erdogan, referring to the details officially released during the Mitsotakis-Erdogan meeting in Athens
ELSTAT: Inflation ‘Slows Down’ in November to 3% Compared to 2022
This development can be primarily attributed to a significant decrease in the prices of natural gas (-53.2%) and fuels-lubricants
Greece’s Trade Deficit Down by 19.6% in Jan-Oct 2023 Period
The value of exports reached 4.421 billion euros, down 8.8 percent from October 2022.
Supermarket Trends: Greek Consumers Favor Snacks, Soft Drinks, and Alcoholic Beverages Over Ten Months
According to data from Circana (formerly IRI) for the ten-month period of January-October 2023, the largest sales volume increase was recorded in non-alcoholic beverages and snacks at +4.4%, and alcoholic beverages at +4.3%
Zara Launches Clothing Resale Platform in Greece
Zara is set to introduce its Zara Pre-Owned platform in Greece on December 12 2023, providing customers with the opportunity to sell and purchase second-hand Zara clothing
ELSTAT: Greek GDP up by 2.1 pct in Q3 of 2022
In terms of volume, ELSTAT data indicated a marginal 0.02 percentile upward tick in the 3rd quarter of 2023, in comparison to the previous quarter of the same year
Extension of Reduced VAT Rates Announced in Greek Tax Legislation
The Greek Ministry of Finance introduced an amendment to the tax bill, extending the reduced VAT rates until June 2024
Eurobarometer: 87% of Greeks See Their Standard of Living Decreasing in 2024
Greek policy priorities include the fight against poverty and social exclusion, the economy and job creation and public health
