The Greek Deal.com
GREEK ECONOMY
Greece is the growth champion in Western Europe
The financial assets of Greek households grew by 7.4% in 2023, the highest growth rate in Western Europe according to Allianze.
Sees growth of 2.3% this year and 2% in 2025
The Greek economy is projected to grow at a higher rate than the Eurozone, both this year and in 2025, according to an International Monetary Fund report on the outlook for the global economy released today.
Maintained BBB- investment grade for Greece
Standard and Poor's made no move yesterday evening, maintaining its BBB-investment grade rating (the lowest level of investment grade) with a positive outlook.
Growth at 2.3% in 2024
The Parliament Budget Office revised forecast for the Greek economy's annual growth rate for 2024 stands at 2.3%, slightly lower than the previous estimate of 2.5%, as published in the June report.
Bullish on the Greek economy
UBS remains bullish on the Greek economy, noting that GDP remains on track to meet its forecast for 2.5% growth in 2024, despite recent weakness in Eurozone indicators.
Greece's progress and the government's reform plan
In his keynote address at the Société Générale conference in Paris, which was organized in collaboration with the Athens Stock Exchange (EXAE), Prime Minister's Economic Advisor Alexis Patelis mentioned Greece's progress over the last five years in several significant economic indicators.
Upgrades its growth estimate for Greece to 2.3% this year
UniCredit has upgraded its forecasts for the Greek economy, predicting growth of 2.3% this year from 1.9% previously, while for 2025 it continues to expect growth of 1.7%.
Greek economy in expansion phase - Exogenous risks intensify
The Greek economy, after the negative disruption of the pandemic, which in national accounts terms was mainly reflected in the 2020 data (real GDP fell by 9.3% annually), is in an expansion phase, according to Eurobank's 7 Days Economy.
Uncertainty about the short-term course of the market decreases
Data from the Centre for Planning and Economic Research (CPER), which keeps a close eye on the state of the economy, show that the fear index fell in June.
Positive performance of the Greek economy - Huge potential
Declan Costello, Deputy Director General of the Commission's Directorate General for Economic Affairs, reaffirmed the positive narrative for the Greek economy, which has transitioned from a struggle for survival to reforms for its full upgrade.
Growth 2.2% in Greece this year and inflation of 2.8%
Greece’s GDP is predicted to grow by 2.2% in 2024 and 2.3% in 2025, helped along by private consumption, investment, and exports.