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At the same time, Greece's GDP index for the second quarter of 2024, based on OECD data, was only 85.07 points, placing the country again at the bottom.

As a report by ENYPEKK notes, self-employed professionals in Greece are under severe financial burden due to imputed taxation and yearly hikes in social security contributions

The corresponding forecasts by the Greek government are 2.2% for 2024 and 2.3% for 2025

According to Eurostat, Greece recorded the second largest reduction on a year-to-year (YTY) basis at -8.9 pp

GDP at constant prices reached €196.984 billion in 2023, up from €192.495 billion in 2022, ELSTAT said

A report by the Athens-based Institute for Alternative Policies (ENA) counters the government’s narrative, saying Greece is last in the EU in terms of investments per GDP percentage

The report points out that private consumption is expected to benefit from a rise in real disposable income in the wake of a fall in inflation vis-à-vis the rise in nominal wages

Regarding monetary policy, the BoG notes that 2024 will see a marginal expansion as a result of investment spending from available EU funds.

As per inflation, Greece’s central bank expects a continued slowdown this year, with the inflation rate dropping to 3%

Based on the available seasonally adjusted data, the Gross Domestic Product in terms of volume increased by 1.1% in Q2 2024, compared to Q1 2024

In the section about Greece in its “Global Economics & Strategy” report, the firm highlights the primary fiscal surplus in the 2nd half of 2024 exceeded the €1.2 billion target set, reaching €2.9 billion

Compared to the same quarter of the previous year, seasonally adjusted GDP increased by 0.6% in the Eurozone and by 0.8% in the EU

The independent economic research business based in London appears reassuring regarding the effects of climate change on tourist activity.

At the same time, the formerly bailed east Mediterranean country records the biggest decrease in debt-to-GDP, on a quarterly basis

The Canada-based credit rating agency, however, lowered its GDP prediction to 2.2% for 2025

The available non-seasonally adjusted data indicate that in the 1st quarter of 2024 the Gross Domestic Product (GDP) in volume terms increased by 1.9% in comparison with the 1st quarter of 2023

Besides Greek GDP inflation is expected to drop by a substantial 2.4% in 2024, settling at 2.8% from 4.2% in 2023 with 2025 recording a further decline to 2.1%.

Key downside risks remain, associated with possible delays in deploying Recovery and Resilience Facility (RRF) funds and weaknesses in key export markets and tourism source countries

Annual inflation is expected to reach 3%, up from the previous forecast of 2.8%

Greek debt saw a slight dip to 356.7 billion euros by the end of 2023, down from 356.8 billion euros a year prior