MacroPolis

EC autumn forecasts project stable growth and fiscal outlook

The European Commission published on Monday the latest autumn forecasts, in which the outlook for Greece remains broadly unchanged, while the effects of the conclusion of the RRF are captured further into the forecast horizon.

Government budgeting on a late RRF sprint

The draft budget for 2026 tabled in Parliament last week contained interesting signals for further policy considerations and the public debate.

Government’s effort to revive economic success story narrative heavily reliant on RRF execution

Prime Minister Kyriakos Mitsotakis and Finance Minister Kyriakos Pierrakakis were in Thessaloniki on Thursday with the aim of talking up the government’s economic record, while also drumming up some positive publicity ahead of the New Democracy leader’s keynote policy speech at the city’s international fair (TIF) on September 6.

IMF's Article IV consultation notes progress, reiterates low long-term growth outlook

The IMF published on Friday the staff statement following the conclusion of the mission in the context of Article IV consultations, noting the progress that Greece has achieved in recent years on the fiscal and debt fronts.

IMF forecasts add to concerns about sluggish growth ahead

Greece’s economic outlook received another dose of reality this week as the IMF published the latest economic outlook in its World Economic Outlook (WEO) in the context of the annual joint meetings with the World Bank.

Slow pace at which RRF funds reaching firms a growing issue

A regular note on the Greek economy published by the Bank of Greece has highlighted concerns about the benefits from the RRF facing headwinds given the scheme’s demanding and finite schedule, the need to meet tight milestones and the legacies of the decade-long crisis, which has dented Greek entrepreneurship.

Management of RRF funds sparks new political tension

Greece’s use of the funds available via the RRF has become a contentious political issue after the two main opposition parties, SYRIZA and PASOK, declined to vote in favour of the next request for loan and grants from the European Union.

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.

EC tweaks forecasts, sees 2023 growth at 1.2 pct

The European Commission updated its estimates in the latest winter forecasts, essentially retaining the view it held in the autumn, seeing modest growth of 1.2 percent in 2023, after a rise of 5.5 percent in 2022.