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RRF
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EconomyMacroeconomy
Government’s growth ambitions meet RRF reality The government was battered this week by farmers blocking national roads and key infrastructure and from its own parliamentary group, which questioned openly the administration’s approach, the Eurogroup’s unanimous election of Greek Finance Minister Kyriakos Pierrakakis as its president for the next two and half years was a welcome development for Prime Minister Kyriakos Mitsotakis, at least on the public relations front.
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EconomyMacroeconomy RRF promise fades as growth outlook weakens The Finance Ministry submitted to the European Commission recently the latest multiyear fiscal framework for the 2026–2029 period, including updated fiscal and macroeconomic expectations.
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EconomyMacroeconomy 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.
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EconomyMacroeconomy
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.
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PoliticsGreek Politics
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.
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EconomyMacroeconomy![Photo via IMF photostream on Flickr [https://www.flickr.com/photos/imfphoto/]](resources/toolip/img-thumb/2014/08/11/imf_439_1108-medium.jpg "Photo via IMF photostream on Flickr [https://www.flickr.com/photos/imfphoto/]")
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.
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EconomyMacroeconomy
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.
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Economy
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.
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PoliticsGreek Politics
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.
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EconomyMacroeconomy
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.