Greece economy

The Greek Minister of National Economy and Finance, Kostis Hatzidakis, expressed his satisfaction with Scope's upgrade of the Greek economy.

Regarding the country’s unemployment growth the report mentions that it is expected to slow down due to rising labor costs.

The numerous laissez-faire liberals in the government must be feeling somewhat uncomfortable with the government's continual interference in various markets

The digitalization of transactions and measures introduced by the Ministry of Finance, such as the imputed taxation of professionals, generated an additional 1.8 billion euros.

Travelers continue to visit Greece off-season into Sept. with the number of inbound travelers up by 6.6% and a 7.9% rise in travel receipts.

The new era for Greece’s tax authority includes smart technologies including AI that will help simplify procedures and audits.

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

Within the European Union, Denmark stands out securing the 6th position, globally, with Germany ranking 16th and France 36th

Data shows that Greece’s dependence on Middle Eastern oil is the highest among developed economies, as is its reliance on exports to the Middle East and North African region.

This subsequent debt repayment is expected to be completed by Sept. 2025, with an amount of at least 5 billion euros.

For 2024, the growth rate of the Greek economy is now expected to reach 2.14%, up from the previous estimate of 2.09%.

Moody's is the fifth major credit rating agency to be approached for an investment-grade rating—after DBRS, Fitch, S&P, and Scope have already upgraded Greece.

Job vacancies have become a significant challenge for the Greek economy, as they continue to grow, halting the country’s economic growth.

However, thousands of taxpayers will benefit from a discount of up to 20% on the ENFIA tax they will be required to pay.

Greek market experts are forecasting a 15-20% rise in the price of basic goods, coffee, and cocoa in September.

Central Greece, Western Greece, and the Peloponnese are particularly susceptible to forest fires, while Eastern Macedonia and Thrace are vulnerable due to disparities in per capita GDP. Attica stands out for its extreme vulnerability due to high population density.

More Greeks who left the country during the 2010 economic crisis seeking better conditions are thinking of coming back

According to the OECD, Greece experienced the sharpest decline in real per capita household income, which fell by 1.9%, despite a 0.9% increase in real per capita GDP.

It settled a a 5-month low at 106.8 in July

Three of the four bankers have already announced dividends for 2023's results, the first such distribution of profits after three successive bailouts