The European Commission today published its autumn economic forecasts for the years 2024, 2025 and 2026, the Ministry of Economy & Finance said in a statement.

These confirm that in an economic environment of relatively low economic growth in the European continent, the Greek economy continues its very positive course and its convergence towards the European average. Both this year and over the next two years, the Commission forecasts that our country will achieve growth rates significantly above the euro area and European Union averages, both in terms of total and real GDP per capita.

The projections also show that the country's economic growth is changing. This can be seen in three ways: (a) the share of investment and exports in GDP is continuing to rise; (b) the country's productive capacity is growing faster, as shown by productivity growth and potential GDP; and (c) the share of goods and services produced by the private sector that are traded internationally is continuing to rise.

These positive developments are expected, according to the Commission's forecasts, to have a tangible impact on the living standards of Greek citizens through further employment growth, a further reduction in unemployment, and a continued increase in real per capita earnings of workers. The living standards of citizens will also be supported through an increase in the quantity and quality of public services, which will result from the projected accelerated increase in public investment.

At the same time, the Commission's forecasts emphasize the continued dramatic decrease in the Greek public debt-to-GDP ratio, which is a result of real GDP growth and sustainable primary surpluses produced by strong growth and decreased tax evasion.

Finally, they confirm the steady downward path of inflation, which after the large global energy/inflation shock of 2022 is on track to decelerate and return to the 2% target within the next two years.