Updated Stability Programme reflects impact of crisis as growth revised to 3.1 pct, rising in 2023

EconomyMacroeconomy Tags: Budget, Debt, EC, GDP
Photo by MacroPolis
Photo by MacroPolis

The Greek authorities submitted to Brussels last week the updated Stability Programme for the 2022-2025 period, in which the impact of the cost-of-living crisis and the fallout from the conflict in Ukraine are reflected.

Real GDP growth is now revised down to 3.1 pct for this year, from the 4.5 pct growth estimate in the final budget for 2022. Harmonized inflation is also significantly revised to 5.6 pct for this year, before getting contained to 1.6 pct in 2023.

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