MacroPolis

PBO sees 2024 growth of 2.5 pct hinging on RRF and investments

The Parliamentary Budget Office (PBO) published on Monday its latest quarterly report in which it is broadly positive about the prospects of the Greek economy in 2024, though it does flag up concerns about the effects of persistent inflation, the implications of the latest minimum wage rise and the critical role of the RRF for growth forecasts to materialise.

Great Expectations: Is Greece 2.0 hitting the target?

By: Georgia Nakou

Funding from the EU’s Recovery and Resilience Facility has been central to shaping expectations of economic recovery in Greece as the country emerges from its ten-year economic crisis and the Covid-19 pandemic.

Underwhelming GDP highlights investment falling short of mark

The signs that the Greek economy has been slowing were evident in previous GDP releases for 2023, as minor movements were recorded during the year and, after the latest revision, the first quarterly drop was seen in Q3. There was a minor 0.1 pct contraction, not seen since Q2 2020 when the pandemic dealt a serious blow to the economy.

GDP continued to slow in Q4, rise for 2023 at 2 pct

Greece’s seasonally adjusted (SA) GDP had marginal gains in Q4, rising by 0.2 percent quarter-on-quarter (QoQ), from a 0.1 percent drop in Q3, provisional data from the Hellenic Statistical Authority (ELSTAT) revealed on Thursday.

European Commission leaves 2024 growth estimate of 2.3 pct unchanged

The European Commission left Greece’s growth estimate for 2024 unchanged in the latest winter forecast published on Thursday, expecting the Greek economy to grow by 2.3 pct.

IMF approves Article IV consultation, growth seen resilient

The International Monetary Fund (IMF) board approved on Wednesday the Article IV consultation for Greece by endorsing the staff appraisal published mid-November following a mission.

BoG revises 2024 growth down to 2.5 pct, advocates wide range of policies and reforms

The Bank of Greece published on Wednesday its interim monetary policy report for 2023, which assesses the economy’s progress over the year, though challenges are clouding the outlook.

GDP unchanged on quarterly basis in Q3, up by 2.1 pct YoY

Greece’s seasonally adjusted (SA) GDP was essentially unchanged in Q3, rising by 0.02 percent quarter-on-quarter (QoQ), from 1.1 percent rise in Q2, provisional data from the Hellenic Statistical Authority (ELSTAT) revealed on Wednesday.

Final budget sees 2.9 pct growth in 2024, primary surplus at 2.1 pct of GDP

The Finance Ministry submitted to Parliament the final budget for 2024, which sees growth picking up next year and a sizable primary surplus in line with the country’s fiscal commitments that support debt sustainability.

EC's autumn forecasts see stable growth, with RRF playing pivotal role

The European Commission published on Wednesday the latest forecasts for autumn, which are unchanged for this year and improved for next year, compared to the previous estimates in spring.