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EC makes minor adjustment to growth forecast, at 2.2 pct for 2024
EconomyMacroeconomyThe European Commission published on Wednesday the spring forecasts and the growth outlook for Greece, which remained broadly unchanged with growth seen at 2.2 pct in 2024 and 2.3 pct next year.
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OECD sees growth stable at 2 pct this year, urges reforms and fiscal discipline
EconomyMacroeconomyIn its latest economic outlook, the OECD is slightly more optimistic about Greece’s growth prospects, although it warns that there is no room for complacency as the economy’s structural challenges need to be addressed and the public spending the economy requires will lose the boost it had received from the RRF when the scheme concludes in 2026.
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Stability Programme revises growth down to 2.5 pct as investment estimates prove too rosy
EconomyMacroeconomyGreece submitted on Tuesday to the European Commission the 2024 Stability Programme, making it the first official document in which the Greek authorities have revised down their initial growth outlook for the year.
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S&P ups outlook to positive, leaves rating at 'BBB-'
EconomyS&P published the latest credit rating review for Greece, where the rating was left unchanged at ‘BBB-‘, while the outlook was upgraded from stable to positive. S&P had granted the investment grade to GGBs in October last year, followed by Fitch in December.
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IMF sees 2024 growth at 2 pct, debt on downward trend due to high primary surpluses
EconomyMacroeconomyDuring the Spring meetings held by the International Monetary Fund and the World Bank in Washington this week, the IMF presented its latest global estimates as part of the World Economic Outlook and the Fiscal Monitor.
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BoG sees 2024 growth at 2.3 pct, cautions against complacency due to risks
EconomyMacroeconomyAhead of the general meeting of its shareholders, the Bank of Greece released on Monday the annual governor’s report for 2023 in which it sees progress on several fronts, notably securing the investment grade for GGBs.
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PBO sees 2024 growth of 2.5 pct hinging on RRF and investments
EconomyMacroeconomyThe 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.
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Great Expectations: Is Greece 2.0 hitting the target?
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EconomyFeaturesFunding 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.
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Underwhelming GDP highlights investment falling short of mark
EconomyMacroeconomyThe 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.
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GDP continued to slow in Q4, rise for 2023 at 2 pct
EconomyMacroeconomyGreece’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.